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Auto Loans

Auto Loans Interest Rates w.e.f. 10.05.2020 (Fixed Rate)

Scheme Interest Rate w.e.f. 10.05.2020 (1 year MCLR: 7.25%)

i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme

 

 

From 8.00% to  8.70%

 

 

Loyalty Car Loan Scheme

SBI Car Loan, NRI Car Loan

From 7.95% to 8.65 % (CIC Based rates are applicable)

Certified Pre-owned Car Loan Scheme

Men: 2.25% above 1 year MCLR i.e. 9.50% p.a.

For Women: 2.20% above 1 year MCLR i.e. 9.45% p.a.

Certified Pre-owned Car Loan Scheme

From 9.75% to 10.75% (CIC Based rates are applicable).

Super Bike Loan Scheme

3.25% above 1 year MCLR i.e. 10.50% p.a

SBI Two-Wheeler Loan

9.05% above 1 year MCLR i.e. 16.30% p.a.

SBI Car Loan Lite
CIBIL Score Rate of Interest

>=750

3.00% above 2 Yr MCLR i.e. 10.45% p.a.

From 650 to 749

4.00% above 2 Yr MCLR i.e. 11.45% p.a.

 

Finer pricing for New Car Loans based on CIC scores w.e.f. 10.05.2020

CIC SCORE TERM OF THE LOAN  

-

3-5 years

Above 5 years

-
750 & ABOVE 0.75% + 1 YEAR MCLR 0.85% + 1 YEAR MCLR  

700-749

1.00% + 1 YEAR MCLR

1.10% + 1 YEAR MCLR

-

650-699

1.25% + 1 YEAR MCLR

1.35% + 1 YEAR MCLR

-

600-649

1.35% + 1 YEAR MCLR

1.45% + 1 YEAR MCLR

For Women concession of 5 basis points in this category of 600-649 CIC Score
-1

8.00% to 8.35%

  
  • # For loan amount of Rs. 5.00 lacs and above, the lower CIC score will be considered from either of the two CICs to get the interest rate benefit as stated above.
  • * Corporate Salary Package customers would include all types of customers maintaining salary account with us with product specification as “Salary Package Accounts” in CBS. This would include employees of State/Central Government, PSUs, Corporations and Listed Pvt. Sector companies maintaining Corporate Salary Package account with us. This would also include Railway Salary Package, Police Salary Package, all Defense Salary Packages and PMSP Pensioners.
  • ** Other than Corporate Salary Package customers would include Businessmen, Professionals/Self Employed, Agriculturist, Pensioners and other salary accounts.
  • Mean Rate for Auto Loans : 9.52%

Interest Rates

7.75% p.a.

(On Applying through YONO)

8.00% p.a.

 

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