2013 SBI used car loan interest rate

Now a day to buy a car is not at all a big thing. Earlier having a car was a matter a wonder but now days everyone is having a personal car. To move in a car has become one of the most important parts of our life. The importance of using car is increasing day by day. Now days the mentality of using car has grown up to an extreme, now everyone is in a want to buy a car whether they can afford it or not that becomes secondary and that is why buying used car is also increasing rapidly and that is why banks are also providing loans on used car . But they can easily buy a used car by help of bank loan. To buy a used car not very herd because used car also available in car market widely.
SBI is the biggest and most trustable bank of India. Like other Bank they also provide car loan to their customers to buy car. Now a day’s selling of used cars has increased to an extreme and that’s why SBI has come up with attractive used car loan scream with an comparatively low rate of interest. SBI is governor bank so obviously their used car loan scheme is more trustable than others banks. SBI also cut their interest rate of their car loan.
As I have already said earlier that SBI has already proves themselves as one of the most trustworthy bank among all the other private and government banks. To you if trust matters a lot then Suggestion will definitely go for SBI bank, you might be thinking that as SBI being a sole government unit it should have high rate of interest for car loans but actually is not at all the fact, according the list up to 21st Feb, 2013 SBI provides car loans for new car at 11.25% and for used car they provide you loans at 17.25% Upto 36 Months, 17.50% Above 36 Months, with greater EMI facility.
Before applying for a loan first chose the car which you want to buy, whether you want to buy a new car or an used car, if you want a new car what will be the brand, affordable price, do you want repay the full amount or you want to go for EMI schemes after that you should verify that the car that you are going to buy is an used car or new cart by checking all the documents and complete all the verification process.
When you approach to buy a used car dealer also help you to get the car loan. After inquiry the used car prepares your papers which need to buy a used car.

Before you apply for used car loan remember this..

• ·         Your age in between 21 to 65 years.
• ·         You are a permanent employee of an organization.
• ·         Fill up income tax return properly.
• ·         Net annual income should be above 1 lac.

 Documents needs for Loan:

• ·         You need bank statements of last 12 month from your banker.
• ·         2 Passport Size Photo
• ·         Your Signature should be verified from bank officers
• ·         Residency and office address proof.

·         I.T returns Form 16 of 2 year (salaried employee)/3year (self employee, businessman) acceptable by ITO.

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