SBI Car Loan Interest Rate: There must be many who are planning to buy a car this festive season. To attract customers, the State Bank of India (SBI) is also giving car loan at exciting rate in the view of the festival season. The interested customers can login to bank.sbi for further details.

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The largest public sector lender in the country is offering car loan this festive season with an interest rate of 7.25 per cent. The interested individuals must note that the bank finance all makes of new cars, and second hand cars not more than five years old.

As per the SBI website, the EMI installments for the car loan comprise of both principal and interest components. The EMI would be calculated depending on the tenor one chooses to repay the loan. The EMI would be higher if one chooses to repay within a shorter period as against a longer-term loan. One can repay the loan in up to 84 EMIs.

The interested customers must know that SBI provides finance for one-time road tax, registration fee and insurance premium also. The bank also provides free Personal Accident Insurance up to the outstanding amount, so that in case of accidental death, your near and dear ones are not required to repay the loan.

The SBI customers must also remember that they can apply for the loan from SBI YONO app. The customers who have not yet downloaded YONO can download the app on their Android and iOS devices.

In case of any other query, one can login to the official website at bank.sbi.