South Indian Bank Car Loan | Interest rates | Documents

South Indian Bank Vehicle (Car) Loans: Get Details on Purpose, Loan Amount, Interest Rates, Eligibility, Process, Time Period and other charges Charged on Car loans of SIB.

Type of vehicle : Any private registration vehicle

Cost of vehicle : Shall include Basic cost + duties + taxes + octroi + one time life tax + comprehensive insurance premium for the first year.



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Professional Details
Loan Amount:
Occupation:
Annual Income:
City:

Margin :

Depends on collateral security:

  • 10% margin with 100%collateral
  • 15% margin with 50% collateral
  • 25% margin without collateral

Loan amount : For two wheelers , upper ceiling Rs.75,000/- No upper ceiling for other categories. The total cost of the vehicle less the applicable margin shall be the loan amount , subject to the borrowers income level and repayment capacity.

Collateral Security
 : Please contact the nearby branch.

Rate of Interest
 : 10.50% + 4.40%

Repayment period : Maximum 60 months. Loan to be repaid by monthly installments.

Upfront Fee : 0.50% of loan amount ( one-time)

Penal Interest : 2% for the defaulted amount for the defaulted period.

Pre-payment penalty : Nil

*All loans are granted at the discretion of the Bank and conditions as stipulated by the Bank

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