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SBI Bank Car Loan Scheme With Low Interest Check Eligibility


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SBI offers you the best deal for financing your new car. Lowest interest rates, lowest EMI, minimal paperwork and quick disbursement.

CategoryIncome CriteriaMax. Loan Amount
Regular employees of Central Public Sector Enterprises (Maharatnas/ Navratnas/ Miniratnas).   Defence Salary package (DSP), Para Military salary package (PMSP) & Indian Coastal Guard Package (IGSP) Customers and Short Commissioned Officers of various Defence establishments.Net Annual Income of applicant and/or co-applicant if any, together should be a minimum of Rs. 3,00,000/-.48 times of the Net Monthly Income.
Professionals, Self-employed, Businessmen, proprietary/partnership firms and others who are income tax assessesNet Profit or Gross Taxable income of              Rs. 3, 00,000/- p.a.
(income of co-applicant can be clubbed together).
4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans.
Persons engaged in agriculture and allied activities. Income Tax return is not required in case of agriculturists.Net Annual income of applicant and/or co applicant together should be a minimum of Rs. 4, 00,000/-.3 times of Net Annual Income.

 

Documents Required

You would need to submit the following documents along with the completed application form:

Salaried

  • Statement of bank account for last 6 months.
  • 2 passport size photographs
  • Proof of Identity
  • Address Proof
  • Income Proof: Latest Salary Slip, Form 16
  • I.T. Returns or Form 16 for the last 2 years.
  • Proof of Identity : – (Copy of any one) Passport/ PAN Card/ Voters ID card/ Driving License etc. Address Proof :- (Copy of any one) Ration card/Driving License/Voters ID card/Passport /Telephone Bill/ Electricity bill/Life Insurance policy

 

Non-Salaried/ Professional/Businessmen

  • Statement of bank account for last 6 months.
  • 2 passport size photographs
  • Proof of Identity
  • Address Proof
  • Income Proof: ITR for last 2 years
  • I.T. Returns or Form 16 for the last 2 years.
  • Audited Balance sheet, P&L statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.

Person engaged in agricultural and allied activities.

  • Statement of bank account for last 6 months.
  • 2 passport size photographs
  • Proof of Identity
  • Address Proof
  • Direct agricultural activity (crop cultivation):
    Khasra/Chitta Adangal (showing cropping pattern) Patta/Khatoni (showing land holding) with photograph. All land should be on free hold basis and ownership proof to be in the name of borrower.
  • Allied agricultural activity (like Dairy, Poultry, Plantation/ Horticulture)
    Documentary proof of running of the activities to be provided.