SBI offers car loan at zero processing fee, know interest rate, EMI and other details here

SBI Car Loan Interest Rate: Planning to buy a car? The State Bank of India (SBI) is offering car loans with several benefits. The interested individuals can login to the official website of SBI at sbi.co.in for various details.

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In one of its recent tweets from its official Twitter handle, SBI said, "Buying a car is now simpler than ever! Choose SBI Car Loans and get it done with the best festive offers."

Buying a car is now simpler than ever! Choose SBI Car Loans and get it done with the best festive offers.#SBI #GetItDoneWithSBI #CarLoan #FestiveOffer pic.twitter.com/krKkR8Besr

— State Bank of India (@TheOfficialSBI) November 11, 2021

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.

The interested customers must note that there are several other offers and benefits associated with the loan. These are as follows:

1) 90 per cent on-road finance

2) Nil prepayment charges

3) Zero processing fee

As per the SBI website, the EMI installments for the car loan comprises 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 interested individuals must note that they can give a missed call on 7208933142 or SMS “CAR” on 7208933145 to get a call back from the contact centre regarding the loan.

In case of any queries and further details, the interested individuals can login to the official website of SBI at sbi.co.in.