SBI Car Loan Chennai | Interest Rates | Eligibility | Information

SBI Car Loans in Chennai: Get lowest Interest car loans in Chennai with State Bank of India 2018. Compare EMI, Eligibility, Documents and Fees and Charges on Used, NRI and New Car loans in Chennai.

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Annual Income


SBI Car Loan 2018 Information

SBI Car Loan Details – EMI / Eligibility

Interest Rates 9.20% – 9.70%
Lowest EMI Rs 1619/lakh
Processing fees Max upto Rs.1500/- + GST
Prepayment charges Nil
Repayment options Up to 7 years
Maximum loan amount Up to 4 times of net annual income
Loan approval time 30 Minutes
Maximum Finance Upto 100% of on Road Price
Min. Income 2.50 Lakh annual

SBI Car Loan Interest Rates

Scheme Interest Rate
  1. SBI Car Loan
  2. NRI Car Loan
  3. Combo Loan Scheme
  4. Assured Car Loan Scheme
  5. SME Retail Car Loan Scheme (excluding Taxi, Transport Operators and fleet segments in SME)
9.20% – 9.70%
Loyalty Car Loan Scheme SBI Car Loan, NRI Car Loan and Combo Loan Scheme 9.60% p.a. 9.55% p.a.
Certified Pre-owned Car Loan Scheme Men: 2.45% above 1 year MCLR i.e. 10.60% p.a. For Women: 2.40% above 1 year MCLR i.e. 10.55% p.a.
Certified Pre-owned Car Loan Scheme 4.65% above 1 year MCLR i.e. 12.90% p.a.
Super Bike Loan Scheme 3.65% above 1 year MCLR i.e. 11.90% p.a.
SBI Two-Wheeler Loan 9.25% above 1 year MCLR i.e. 17.50% p.a.
SBI Car Loan Lite
CIBIL Score Rate of Interest
>=750 3% above 2 Yr MCLR i.e. 11.35% p.a.
From 650 to 749 4% above 2 Yr MCLR i.e. 12.35% p.a.

Offers on SBI Car loans in Chennai:

  • No Advance EMI | Lowest EMI
  • Longest repayment tenure (7 years)
  • LTV 85% of ‘On Road Price’ of car, in case of Corporate Salary Package accounts
  • Flexibility of payment of EMI anytime during the month
  • No pre-payment penalty
  • Free Accident insurance – Optional SBI Life cover

Major Branches of SBI in Chennai for Car Loans

  • Purasavakkam High Rd, Perumalpet, Purasaiwakkam, Chennai, Tamil Nadu
  • College Rd, Chetpet, Chennai, Tamil Nadu
  • 2/38, 2nd Main Rd, Railway Colony, Amaindhakarai, Chennai, Tamil Nadu 600029
  • 2nd Ave, Y Block, Block Y, Anna Nagar, Chennai, Tamil Nadu 600040
  • Anna Salai, Anna Colony, Thiyagaraya Nagar, Chennai, Tamil Nadu 600035
  • 5, 1st Cross St, Baktavatsalm Nagar, Adyar, Chennai, Tamil Nadu 600020
  • 2/38, Amaindhakarai, Chennai, Tamil Nadu 600029
  • South Thirumalai Nagar, Seeyalam, Chennai, Tamil Nadu
  • W Karikalan St, TNGO Colony, Adambakkam, Chennai, Tamil Nadu 600088
  • MRC Nagar, Chennai Branch, No.11 Second Street, South Beach Avenue, MRC Nagar Main Rd, MRC Nagar, Raja Annamalai Puram, Chennai, Tamil Nadu 600028

Documents Requirement for Car Loans in Chennai – State Bank of India:

You would need to submit the following documents along with the completed application form:

  • Statement of Bank account of the borrower for last 6 months.
  • 2 passport size photographs of borrower(s).
  • A copy of passport /voters ID card/PAN card.
  • Proof of residence.
  • Latest salary-slip showing all deductions
  • I.T. Returns/Form 16: 2 years for salaried employees and 2 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable
  • Proof of official address for non-salaried individuals
Contact Centre / Contact Details / Customer Care

: Call SBI’s 24×7 helpline through Tollfree 1800 11 2211 (BSNL, MTNL), 1800 425 3800 or Toll no. 080-26599990.