Car loan calculator sbi

The State Bank of India (SBI) Car Loan EMI Calculator tool can be used to calculate the amount you need to pay as Equated Monthly Instalment (EMI) towards the repayment of your SBI Car Loan. Calculating the EMI will help you in planning your monthly budget better as you will be aware of how much of your earnings will be spent in repaying the loan each month. You can then make an informed decision on whether you will be able to afford repaying the car loan.

How to check SBI car loan eligibility?

You can use SBI car loan calculator to check the eligibility. For the car loan EMI calculation of the SBI car loan, you can use the car loan EMI calculator at at our site. The amount of loan that needs to be availed, the tenure of the loan and the interest rates is needed to be entered to check the EMI amount.

What is the interest rate of a car loan from SBI?

Currently, SBI is offering car loan at an interest rate: For new cars: 9.65% for women and 9.70% for men on the new cars with no processing fees; For certified used cars: 13.10% for both men and women. In addition to that, they charge a low processing fee of 0.50% of the loan amount;

How to calculate EMI on SBI car loan?

For the car loan EMI calculation of the SBI car loan, you can use the car loan EMI calculator at at our site. The amount of loan that needs to be availed, the tenure of the loan and the interest rates is needed to be entered to check the EMI amount.

Who can avail of SBI Car Loans?

Both salaried and non-salaried individuals who are between 21 years to 65 years of age can avail of SBI car loans.

What is the minimum EMI limit for SBI Car Loan?

The minimum EMI limit for the SBI Car loan is Rs. 1,622 / Lakh. The amount paid as EMI is inclusive of both principal sum and interest amount.

What is the tenure for SBI Car Loan?

The maximum tenure for SBI car loans is 7 years.

Is there a penalty on the prepayment of SBI car loans?

No, there is no penalty charge on prepayment of such loans.