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    Eligibility | Loan Amount | Rate of Interest | Tenure of Loan | Security
 

 
State Bank of India has an extensive administrative structure to oversee the large network of branches in India and abroad. The Corporate Centre is in Mumbai and 14 Local Head Offices and 57 Zonal Offices are located at important cities spread throughout the country. The Corporate Centre has several other establishments in and outside Mumbai, designated to cater to various functions. Our Colleges/Institutes/Training Centres are the seats of learning and research and development to spread the wings of knowledge not only to our employees but also other banks/establishments in India and abroad.

www.sbi.co.in
 
Loan Amount
  • 2 times the net annul income/annual cash accruals less repayment obligations
  • Maximum of Rs. 2 lakhs in the normal course for new vehicles
Margin
  • Term loan for new vehicle up to Rs 6 lakhs - 15%
  • Term loans over 6 lakhs for old vehicles up to 2 years - 30%
  • Old vehicles of 2 to 4 years - 40%
 
Rate of Interest
  • Floating Rate          11%
  • Fixed Rate              11.5%
  • Short Term Loan     10.25%
 
Tenure of Loan
  • Term loan
    • Repayable in 84 months for new vehicles
    • Repayable in 60 months for old vehicles up to 2 years old
    • Repayable in 36 months for vehicles more than 2 years and up to 4 years old

  • Short term loan is repayable in 36 monthly installments (new and up to 2 year old vehicles only)
 
    Eligibility | Loan Amount | Rate of Interest | Tenure of Loan | Security
 
 
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