SBT Car Loan | Eligibility | Interest Rates | Documents | Apply

State Bank of Travancore Car Loan – Compare and Apply for SBT Car loans, Interest rates, Documents, Eligibility, processing Fees.

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.

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Professional Details
Loan Amount:
Annual Income:

Interest Rates of car loans

Car Loans (effective from 26.09.2011)
Tenure Rate of Interest
Up to 3 Years 1.75% above Base rate i.e 12.25 %
Above 3 Years up to 5 Years 2.00% above Base Rate i.e 12.50%
Above 5 Years upto 7 Years 2.50% above Base rate i.e 13.00 %

For overdraft Car loan accounts (Car loan OD) a differential rate of 0.50 % should be maintained over and above the above mentioned rates.

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.


  • 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


  • New Cars 84 equated monthly installments
  • Second hand cars 60 equated monthly installments


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 :

  1. Salary Certificate showing deductions
  2. 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

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