SBI Loyalty Car Loan Scheme

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Loyalty Car Loan Scheme(For existing Home Loan Borrowers)
Loyalty Car Loan Scheme(For existing Home Loan Borrowers)
Loyalty Car Loan Scheme(For existing Home Loan Borrowers)

SBI Loyalty Car Loan (Vehicle Loan) Scheme

Features of SBI Loyalty Car Loan

  • Income  : Minimum Net Annual Income of the borrower should be Rs. 2.00 Lacs.
  • LTV: Maximum up to 100% of Ex-Showroom Price.
  • Repayment Period: 7 Years Maximum

Eligibility of SBI loyalty car loan (Vehicle Loan) scheme

  • Availed housing loan from SBI.
  • Satisfactorily serviced the loan for at least one year after the moratorium period.
  • Taken the possession of house.
  • Created valid equitable mortgage
  • Maintained security margin of at least 15% for purchase/construction of plot/house.
  • Completed all terms and conditions regarding sanction of housing loan.

What are the documents required ?

  • As per respective Car/Vehicle Loan Schemes
  • The equitable mortgage of the Housing Loan will be extended to cover the Car Loan for the loan amount above Rs 5 Lacs
  • In case of car loans upto Rs 5 Lacs, a letter from the borrower authorizing the Bank to exercise lien on title deeds and to retain the title deeds till the car loan is completely discharged/repaid with interest and other charges.

Last Updated On : Tuesday, 15-07-2025

Interest Rates

9.00% p.a.

 

*T&C Apply.

 

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