State Bank of India Used Car Loan
 

Hey, Can you please give here detail about the Used Car Loan scheme offered by State Bank of India (SBI) to its customers ?

Re: State Bank of India Used Car Loan
 

State Bank of India offers loan to buy Used Car which should not be more than five years old

SBI Car Loan Scheme for Used Car:

Loan Amount
Maximum Loan amount :
2.5 times of net annual income.

Eligibility
Age :
21-65 years of age.

Permanent employee of State / Central Government, Public Sector Undertaking or Private company .

Professionals or self-employed individual

Person engaged in Agricultural activities.

Salaried:
Net Annual Income should be
Rs. 3,00,000/-

Self employed, professionals and Proprietary / Partnership Firms:
Net Profit or Gross Taxable income :
Rs. 4,00,000/- p.a.

Agriculturist:
Net Annual income :
Rs. 4,00,000/-

Margin
15% of the on the road price

Repayment
84 months.

Contact :
State Bank of India
1800 425 3800