SBI bank is one of the most trusted banks for personal facilities. It is an Indian multinational public sector banking and financial services. SBI established on 1 July 1995 and their headquarters in Mumbai.
SBI Combo Car Loan Scheme is targeted towards people who want to borrow a loan to receive financial aid while purchasing a car as well as a two wheeler at the same time. In this scheme, a candidate can withdraw 85% of the on road price of the car. With the age of 21 years to 65 years are eligible to get this scheme.
1. Flexible repayment tenure :
SBI combo car loan scheme offers best and flexible repayment tenure to the customers who want to buy their new dream car. The repayment tenure of SBI Combo car loan scheme is 1 years to 7 years.
2. Lowest interest rate :
The minimum interest rate of SBI Bank combo car loan scheme is 8.70% and the maximum interest rate is 9.10%. Basically the rate of interest will be decided by the bank according to the customer age, employment type, overall profile and the most probably Cibil score. It offers the lowest interest rate to the customers.
3. No prepayment penalty :
SBI Bank combo car loan scheme charges no part payment penalties and foreclosure charges. Basically SBI bank combo car loan scheme applies no charges.
For salaried person :
Age: 21 to 65 years
Income: A net annual income of Rs. 2,00,000 of the applicant and/or the co-applicant
Max. Loan amount: Forty eight times of the net monthly income
For self-employed, businessmen, proprietary/partnership firms :
Age: 21 ton 65 years
Income: Net Profit or Gross Taxable income of Rs. 4,00,000
Max. Loan Amount: 4 times of Net Profit or Gross Taxable income as per the filed ITR
For Agriculturist :
Age: 21 to 65 years
Income: A net annual income of Rs. 4,00,000 of the applicant and/or the co-applicant
Max. Loan amount: 4 times of Net annual income
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TYPE |
CHARGES |
|
Processing fee |
If loan amount is upto Rs.6 lakh the processing fees is Rs.1000 plus GST and above Rs.6 lakh the processing fee is Rs.1500 plus GST. |
|
Charges |
No charges apply |
While applying for a car loan properly check all the documents that are mentioned below. Without these documents loan is not possible to get.
1. ID Proof : Aadhar card, pan card, passport, voter id
2. Address Proof : Electricity bill, registry, rental agreement, voter id, Aadhar card
3. Income proof : Latest 6 months Bank Statement, Latest salary slip, Last 2 years ITR or Form 16
|
BANKS |
INTEREST RATE |
|
9.05% to 11.30% |
|
|
14.80% to 16.80% |
|
|
13.99% |
|
|
15.00% |
|
|
8.00% to 10.75% |
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8.70% to 9.20% |
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|
9.75% |
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|
8.70% to 9.5% |
|
|
8.80% to 10.50% |
|
|
12.75% to 15.30% |
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|
13.75% to 16% |
|
|
8.00% to 24% |
|
|
9.25% |
|
|
9.30% to 12.85% |
|
|
9.30% to 9.90% |
|
|
12% to 14% |
|
|
10.65% to 15.50% |
|
|
8.85% |
|
|
8.95% |
|
|
7.75% to 10.30% |
|
|
8.45% |
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8.9% to 9.35% |
There is multiple ways by which you can apply for SBI combo car loan scheme like
Offline Method : By visiting to SBI branch office
Online Method :
Firstly browse to SBI bank website
Now click on “Personal”
In personal menu click on “Loans”
After that go to “Auto Loan”
Now click on “ SBI Combo car loan scheme”
Click on Apply now and fill the application form
Attach all required documents with application form and submit it
In few you will notify whether you are eligible or not for the loan
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The maximum interest rate charged by SBI Combo car loan scheme is 8.70%.to 9.20%.
The SBI combo car loan scheme amount limit is 85 percent of on road price of the car.
No, there are no charges applied for SBI combo car loan schemes.
The age should be 21 years to 65 years required for SBI combo car loan scheme.
The tenure period is 1 years to 7 years of SBI combo car loan scheme.
Last Updated on : 27/Jul/2020
Know More About
You're eligible for a Sbi Combo Loan Scheme if you:
Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Your eligibility depends on:
Earn more than minimum income required
Maximum allowed Car Loans is Rs. 10K to Rs. 45 lakhs
EMIs of other loans loweryour eligibility
Boost your eligibility by:
Pay off your credit card bills
Choose longer tenure loan up to 5 years
Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:
- 1. Photo ID and age proof
- 2. Signed application form with photograph
- 3. Residence proof
- 4. Last 6 months bank statement
- 5. Documentation for salaried applicants:
- Last 3 months salary - slips
- Form 16 or Income Tax Returns
- 6. Documentation for self-employed applicants:
- Last 3 years Income Tax Returns with computation of Income
- Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account
Updated on 25 Nov 2017
| Sbi Combo Loan Scheme Details | |
|---|---|
| Interest Rate (Monthly reducing balance) | 8.7% - 9.2% |
| Processing Fees | Loan amount is upto Rs 6 lakh : (Rs.1000 plus GST) and above Rs.6 lakh : (Rs.1500 plus GST) |
| Loan Tenure | 1 year to 7 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
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