SBT Car Loan @ 9.95% – 10.20% Interest Rates, Eligibility EMI Online
State Bank of Travancore Car Loan – Compare and Apply for SBT Car loans, Interest rates, Documents, Eligibility, processing Fees. Calculate EMI & Eligibility with Calculator at deal4loans.com.
Persons Eligible
✓ Salaried and other regular income earners with a minimum of 2 years standing/ experience in their line of activity.
✓ Spouse of NRIs, based on the monthly income of the NRI.
SBT Car Loan Interest Rates
| Scheme | Interest Rates |
| Below 10 lakh – New Car | 10.20% |
| Above 10 lakh – New Car | 9.95% |
| Preowned (repayment upto 3 years) | 14.70% |
| Preowned (repayment above 3 years) | 15.20% |
Processing Fees: 0.30% of loan amount with a minimum of Rs.1000/- and a maximum Rs.3,000/- .(Service tax extra)
State Bank of Travancore Car Loan EMI Calculator
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Amount of Loan
✓ Eligible Amount Maximum
✓ New Cars/Jeeps 30 times net monthly income Rs.30 lakhs
✓ Second hand cars 30 times net monthly income
✓ (vehicles upto 2 years old) Rs.4 lakhs
✓ (vehicles 2 to 5 years old) Rs. 3 lakhs
* Margin Take over of Car loans (from other banks) can be considered.
**Reimbursement of expenses incurred for purchase of new cars by way of Hypothecation is also considered.
Margin
✓ Up to Rs.20 lakhs – 15% of the road cost of the new car to be purchased (invoice cost+life tax+Insurance)
✓ Above Rs.20 lakhs – not less than 25%
✓ 25% for second hand cars upto 2 years old
✓ 40% for second hand cars above 2 years upto 5 years old
Repayment
✓ New Cars 84 equated monthly installments
✓ Second hand cars 60 equated monthly installments
Security
Primary : Hypothecation of the vehicle purchased out of bank finance.
Collateral (for
Car loans above Rs. 50000/-) :
Personal guarantee of one or two persons of sufficient worth.
Processing Charges 0.50% of the loan amount subject to a minimum of Rs.500/- and maximum Rs.10000/-
Insurance Comprehensive Insurance is compulsory for all loans for purchase of vehicle.
Documents / Papers to be submitted to the Bank
✓ Application form (in duplicate)
✓ Passport size photos (2 nos)
✓ Proof of income
✓ A proforma invoice of the vehicle proposed to be purchased. Documents required for used cars, please contact nearest branch
✓ Details of guarantors
a. In the case of salaried persons :
✓ Salary Certificate showing deductions
✓ Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available.
b. In the case of self employed/professional/businessmen :
✓ Statement of computation of taxable income
Other Available Products of State Bank of Travancore
✓ SBT Home Loan
✓ SBT Housing Loan
✓ SBT Car Loan
✓ SBT Personal Loan
✓ SBT Two Wheeler Loan
✓ SBT Consumer Durable Loans
✓ SBT NRI Car Loans
