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SBI Car Loan EMI Calculator. Calculate EMI in Online and Check Eligibility and Interest Rates

Updated: Sep 21,2019 14:22 IST

Dinesh

SBI Car Loan EMI Calculator. Calculate EMI in Online and Check Eligibility and Interest Rates
SBI Car Loan EMI Calculator is made available in Online to check the EMI of the car loan the applicant is looking forward to apply. SBI Car Loan EMI Calculator usage is very easy and the calculation is done in just few clicks. More details on SBI Car Loan EMI Calculator and other related information on SBI Car Loan is given in the article.

An Overview on SBI Car Loan EMI Calculator

SBI Car Loan EMI Calculator is an online tool provided by SBI for the benefit of the loan applicants to calculate the Car Loan EMIs which helps them to decide and plan the financial needs. SBI Car Loan EMI Calculator helps to check the complete chart of monthly payments to be made along the entire tenure with respect to the loan amount and the interest rates. This helps the applicants to analyse and to make the right choice based on the applicant’s comfort.

SBI Car Loan vs. SBI Car Loan EMI Calculator

State Bank of India being the top nationalised bank in India reaches millions of customers with the best offers on loans. SBI provides Car Loans under Auto Loans category and SBI Car Loans are considered to be the best to opt among the top nationalised banks. SBI Car Loans are considered best because of the lowest interest rates provided and the longest tenure of the loan. Applicants can calculate the EMI amount using the SBI Car Loan EMI Calculator by providing the loan amount, interest rate and loan tenure.

What are the Details Needed to Calculate EMI?

SBI provides loans under many categories one such loans provided is the car loan and for that SBI gives EMI Calculator to check on the monthly payments to be made. To calculate the Car Loan EMI the EMI Calculator requires suitable inputs based on the customer needs for which the Calculator gives the EMI amount and other related charges for the entire loan tenure. Information to be Provided by the Applicant
  • Loan Amount
  • Duration
  • Interest Rate
  • Results Displayed after Calculation
  • EMI Calculated
  • Total Interest

What is the Online Link for SBI Car Loan EMI Calculator?

Car Loan EMI Calculator is available in Online making it much easier for the applicants to check for EMI and also eligibility of car loan just with few clicks.  Check your SBI Car Loan EMI with just few clicks with the Online Calculator provided. Click the link given for calculating EMI - SBI Car Loan EMI Calculator. Enter the necessary details and click “Calculate” to arrive at the results. The calculated EMI amount is displayed within seconds.

What are the Features of SBI Car Loan EMI Calculator?

SBI Car Loan EMI Calculator is an online feature using which an applicant can get a clear idea of how much he/she has be prepared to pay every month. It is easy to use and takes only seconds to arrive at the results. Some of the features and benefits of SBI Car Loan EMI Calculator are listed below.

  • The tool provided by SBI to calculate EMI is very simple and easy to understand.
  • It is much user-friendly and anyone can check EMI using this calculator.
  • There is no charge to use SBI Car Loan EMI Calculator.
  • Calculator just needs the input in numbers and just a click to calculate the EMI.
  • EMI Calculated and the Total Interest to be paid for the entire loan tenure is displayed as output.
  • As it is available in Online, EMI can be calculated from anywhere and no need of visiting the bank frequently.

What is the Eligibility Criteria to Obtain SBI Car Loan?

Like other loans SBI Car loan doesn’t have much of strict eligibility criteria but few basic eligibility to avail a car loan. The eligibility criteria are given below
  • Should be in the age group between 21 and 65 years
  • With Indian nationality
  • Salaried or Self-employed or a professional
  • In the same business for one year or two years in the same business
  • Get a pay that can make minimum repayment every month

How to Choose Best EMI Option using SBI Car Loan EMI Calculator?

The reason you have to check the EMI amount well in advance is that the EMI amounts are to be paid every month and it should not turn out to be a burden on your monthly finances. On choosing EMI for longer tenure it results in higher payment of interest or if you are choosing a loan with shorter loan term EMI paid per month will turn to be higher. Calculate the EMI amount and choose a loan with optimum EMI and lower interest paid. Car Loan EMI Calculator comes handy in calculating the EMI amount and to decide upon the best car loan offer you can opt.

What are the Features of SBI Car Loan?

SBI Car Loan is the most affordable one for the people who are planning to obtain a car loan. It has low interest rates and easy processing procedure. Some of the special features of SBI Car Loan are listed below.
  • SBI Car loan tenure ranges from 3 to 7 years.
  • SBI Car loan interest rates are negotiable based on your credit score, credit history and if you are already an account holder with the bank.
  • Only in extreme cases SBI asks for a guarantor.
  • SBI Car loans can be availed for small to medium sized cars, SUVs and MUVs. Car loans commonly come under Auto Loans.
  • Certified Pre Owned car loans are encourages an individual to go in for a pre-owned car.
  • Your SBI Car Loan application status can be checked in Online with just few information.
  • Good calculation on interest rates, EMI and other charges on car loan will save you a hand full of bucks.
  • There are separate interest rates and other charges for pre-owned car loans.

What are the Types of SBI Car Loan?

Basically every bank that provides car loan has different categories under which they provide car loans. These categories are mainly for the benefit of the customers. The different type of car loans/car loan schemes provided by SBI are
  • SBI New Car Loan Scheme
  • SBI Combo Loan Scheme
  • Certified Pre Owned Car Loan
  • SBI Loyalty Car Loan Scheme
  • NRI Car Loan

SBI Car Loan Interest Rates

SBI Car Loan Interest Rates differ for each type of car loan availed and also based on many other criteria fixed by the bank. Check the interest rate for each type of Car loans.
 

Interest Rates for SBI New Car Loan Scheme

Category

Income

Max. Loan Amount

Salaried

Annual Income - Applicant & Co-applicant -  Minimum of Rs. 2.5 Lakh

48 times of the net monthly income

Self-Employed

Net profit or gross taxable income - Rs. 4 lakh p.a.

4 times of Net profit or gross taxable income

Agriculturist

Annual Income - Applicant & Co-applicant -  Minimum of Rs. 4 Lakh

3 times of Net Annual Income

The interest rates for SBI New Car Loan Scheme and SBI Combo Loan Scheme are same.

Interest Rates for SBI Loyalty Car Loan Scheme

Minimum Income criteria should be Rs. 2 lakh per annum and the loan amount will be based on market value of the house property, income and On Road price of the vehicle.

Interest Rates for Certified Pre Owned Car Loan

Minimum Annual Income for applicant and/or co-applicant should be Rs. 2 lakh and Maximum Loan Amount will be 2.5 times of the net annual income.

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