NRI Car Loan
NRI applicant (borrower) should fulfill the following conditions:
Guarantor (resident Indian) should fulfill the following conditions:
Guarantor, a Resident Indian, should be a relative to the NRI and should fulfill any one of the following relationships with the NRI, to stand guarantee for the loan:
15% of the on - road price of the car, which includes taxes, insurance, accessories and extended warranty total maintenance Package etc. The maximum cost of accessories, extended warranty and total maintenance package should not exceed 5% of the ex-showroom cost of the vehicle or Rs. 50,000/- whichever is lower.
Processing Fee :
Processing fee has been waived off till 31st December 2017
Interest Rates :
Please click here (as applicable for SBI Car Loan Scheme).
Funds for repayment may be:
Prepayment Penalty :
Zero prepayment penalty, if loan is repaid before maturity
From Applicant (NRI Borrower) :
From Guarantor (Resident Indian) :
Click here to download the NRI Car Loan Applicaiton Form.
Click here to download Power of Attorney for NRI Car Loan.