Apply for SBI Car Loan in Mumbai at Lowest Interest Rates 2023

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

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Professional Details
Loan Amount


Annual Income


SBI Car Loan Mumbai

Interest Rates 8.40% to 9.25%
Loyalty Car Loan Scheme 8.40% to 9.20%
Lowest EMI Rs 1579/lakh
Processing fees NIL
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 90% of on Road Price
Min. Income 3.00 Lakh annual

Offers on SBI Car loans in Mumbai:

  • 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 Mumbai for Car Loans

  • DP Road Number 9, Chandivali, Mumbai, Maharashtra ‎
  • Lokhandwala Rd, Lokhandwala Complex, Kandivali East, Mumbai,
  • Old Prabhadevi Marg, Prabhadevi, Mumbai, Maharashtra
  • Adi Shankaracharya Marg,Near IIT Main Gate, Powai, Mumbai, Maharashtra 400076 ‎
  • RATI KHUSH, Jawaharlal Nehru Rd, Vakola, Santacruz East, Mumbai, Maharashtra 400055 ‎
  • Anna Godbole Marg, Adarsh Nagar, Mumbai, Maharashtra
  • Next to H.P. Petrol Pump, Kapad Rd, Mahim West, Mahim, Mumbai, Maharashtra 400010
  • Plot No. 571, IIIrd Floor Mahalaxmi Engg Estate, Lady Jamshedji First Cross Road, Mahim, Mumbai, Maharashtra 400016

Documents Requirement for Car Loans in Mumbai – 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.