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Personal, home, vehicle & other loans

Assured Car Loan

A fixed-deposit-backed car loan from ₹1 lakh with no published maximum or upper age limit, nil processing fee, repayment from three to seven years and current fixed rates from 8.70% to 9.85%.

Current fixed interest-rate range8.40%–9.35% (fixed at disbursement)Maximum amountMinimum ₹1 lakh; no maximum loan limit is published for the fixed-deposit-backed Assured Car Loan.Published repayment period36 to 84 months
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Quick eligibility check

Assured Car Loan

0 of 9 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Does your age meet this requirement: Minimum age 18 with no upper age limit?

Published source: Age and income treatment

2Does your annual income meet this requirement: declared income is accepted and EMI/NMI ratio is not applicable?

Published source: Age and income treatment

3Does your annual income meet this requirement: The applicant's declared income is accepted?

Published source: Minimum income / income condition

4Does your annual income meet this requirement: the reviewed SBI page does not state a numeric minimum-income threshold for this fixed-deposit-backed scheme?

Published source: Minimum income / income condition

5Are you applying through the fixed-deposit route described here?

6Document checkDo you have this required document or proof: Application and KYC?

Published source: Age and income treatment

7Document checkDo you have this required document or proof: Six months' bank statements?

Published source: Age and income treatment

8Document checkDo you have this required document or proof: Photographs?

Published source: Age and income treatment

9Document checkDo you have this required document or proof: Fixed-deposit charge documentation?

Published source: Age and income treatment
0 of 9 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 6 Oct 2026 · active
Offered byState Bank of India

India through , subject to an eligible fixed deposit and creation of bank charge

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Eligible collateralSBI fixed deposit covering 100% of the vehicle's on-road price, with charge created in favour of the bankView source
The deposit security replaces the usual / test.
Source
Assured Car Loan Scheme
Page / section
Features and documents
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Published loan rangeMinimum ₹1 lakh; no published maximumView source
Finance remains limited by the fixed-deposit security and vehicle price.
Source
Assured Car Loan Scheme
Page / section
Features
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Published repayment period36 to 84 monthsView source
The borrower chooses within the published three-to-seven-year range.
Source
Assured Car Loan Scheme
Page / section
Features
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Age and income treatmentMinimum age 18 with no upper age limit; declared income is accepted and EMI/NMI ratio is not applicableView source
Deposit security remains mandatory despite the relaxed income treatment.
Source
Assured Car Loan Scheme
Page / section
Features
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Loan typeVehicle loanView source
The official product name identifies this as “ Assured Car Loan”.
Source
Assured Car Loan — official product page
Page / section
Official product name and loan classification
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Minimum income / income conditionThe applicant's declared income is accepted; the reviewed SBI page does not state a numeric minimum-income threshold for this fixed-deposit-backed scheme.View source
The page states: 'Minimum Income Criteria: Income declared by applicant will be accepted.' It separately states minimum loan ₹1 lakh and no maximum; these are not treated as an income threshold.
Source
Assured Car Loan / Vehicle Loan — official product page
Page / section
Features — Minimum Income Criteria
Accessed
29 Aug 2026
Confidence
high
Open official source ↗
Tenure36 to 84 monthsView source
The borrower chooses within the published three-to-seven-year range. This is the issuer-published maximumTenure value shown under the comparison field “Tenure”.
Source
Assured Car Loan Scheme
Page / section
Features — comparison field: Tenure
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Prepayment / foreclosureStandard auto-loan prepayment is NIL. Foreclosure is 2% of theo-balance plus GST when completed within two years of disbursement; actual seizure and parking charges apply if the bank seizes the vehicle.View source
The table states NIL prepayment for standard auto loans and 2% plus foreclosure on theo-balance within two years.
Source
Auto Loan Key Facts Statement
Page / section
Page 2, Part 1 item 10(vii)–(x)
Accessed
29 Aug 2026
Confidence
high
Open official source ↗
Maximum amountMinimum ₹1 lakh; no maximum loan limit is published for the fixed-deposit-backed Assured Car Loan.Effective 8 Sept 2026View source
The page states: Min: Rs. 1 lacs, Max: No Limit.
Source
Assured Car Loan Scheme
Page / section
Features — What will be the maximum loan amount?
Accessed
8 Sept 2026
Confidence
high
Open official source ↗
CollateralA fixed deposit covering 100% of the vehicle's on-road price is pledged and charged in favour of SBI; the page lists 100% of fixed-deposit margin for the on-road price.Effective 8 Sept 2026View source
The page requires 100% of a fixed deposit for the on-road price and records a charge in the bank's favour.
Source
Assured Car Loan Scheme
Page / section
Features — Margin Required
Accessed
8 Sept 2026
Confidence
high
Open official source ↗
Current fixed interest-rate range8.40%–9.35% (fixed at disbursement)View source
groups Assured Car Loan with Car Loan and Car Loan at 8.40%–9.35% under the 3-month heading of 8.25%; rates are fixed at disbursement.
Source
Auto / Vehicle Loans Interest Rates
Page / section
Current scheme table; last updated 16-09-2026
Accessed
6 Oct 2026
Confidence
high
Open official source ↗
Rate-card reference8.25% 3-month MCLR reference; the scheme rate is fixed at disbursement and does not reset with MCLR.View source
The current scheme row falls under 3-month : 8.25%. The same page says the customer rate applied at disbursement remains fixed for the entire loan period.
Source
Auto / Vehicle Loans Interest Rates
Page / section
Rate-card grouping; last updated 16-09-2026
Accessed
6 Oct 2026
Confidence
high
Open official source ↗
Current processing feeNilView source
The current Auto Loan tab prints the fee for Assured Car Loan: Nil
Source
Processing Fees
Page / section
Auto Loan tab; page last updated 01-10-2026
Accessed
6 Oct 2026
Confidence
high
Open official source ↗

Benefits and features

  • No published maximum loan amount
  • No published upper age limit
  • No / ratio
  • Nil processing fee
  • Seven-year maximum tenor

Eligibility

  • An eligible fixed deposit must secure the facility.
  • Income is declared by the applicant, but ordinary credit and documentation checks may still apply.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Application and
  • Six months' bank statements
  • Photographs
  • Fixed-deposit charge documentation

Related official documents

SBI Assured Car Loan / Vehicle Loan — official product pageofficial-product-page · current · accessed 29 Aug 2026
↗
SBI Auto Loan Key Facts Statement — APR and contingent chargesofficial-kfs-pdf · current · accessed 29 Aug 2026
↗
SBI Processing Fees — Auto Loansofficial-fee-table · current · accessed 13 Aug 2026
↗
SBI Processing Fees — current Auto Loan sectionofficial-fee-page · current · accessed 6 Oct 2026
↗
SBI Auto Loans Interest Ratesofficial-interest-rate-page · current · accessed 13 Aug 2026
↗
SBI Auto / Vehicle Loans Interest Rates — current scheme and score tablesofficial-interest-rate-page · current · accessed 6 Oct 2026
↗
SBI Auto Auto / Vehicle Loans Interest Rates — current benchmarkofficial-interest-rate-page · current · accessed 29 Aug 2026
↗
SBI Auto Loan Most Important Terms and Conditionsofficial-mitc-pdf · reviewed · accessed 6 Oct 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,538twenty-one thousand five hundred thirty-eight rupees
Interest paid over the full loan₹26,69,027twenty-six lakh sixty-nine thousand twenty-seven rupees
Everything you repay₹51,69,027fifty-one lakh sixty-nine thousand twenty-seven rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Security / margin · Published valueFixed deposit covering 100% of the vehicle's on-road price

This value is copied from Assured Car Loan published terms. Check the table notes before relying on it.

Source: Assured Car Loan / Vehicle Loan — official product page · Features and Eligibility Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 8 rows · 2 columnsSBI Assured Car Loan published termsKey scheme fields transcribed from the official page.View tableHide table

Scroll sideways to view every column

SBI Assured Car Loan published terms
FieldPublished value
Security / marginFixed deposit covering 100% of the vehicle's on-road price
Eligible ageMinimum age 18 years; no upper age limit published
IncomeDeclared income accepted; no numeric minimum published
Loan amountMinimum ₹1 lakh; maximum no limit stated
/ ratioNot applicable
Repayment3–7 years, as chosen by the customer
Interest rateLinked auto-loan rate page
Processing feeLinked processing-fee page
  • The page links the live rate and fee tables instead of reproducing their numbers in the scheme body; the linked official tables remain the controlling sources.
Assured Car Loan / Vehicle Loan — official product page · Features and Eligibility · accessed 29 Aug 2026Open official source ↗
Table 2 · 4 rows · 3 columnsSBI Auto Loan KFS — APR and prepayment treatmentThe KFS APR status and vehicle-loan prepayment/foreclosure rows, preserving the Certified Pre-Owned exception.View tableHide table

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SBI Auto Loan KFS — APR and prepayment treatment
ItemStandard auto loanCertified Pre-Owned Car Loan
Not published; field blankNot published; field blank
Prepayment within 2 yearsNIL1% of pre-payment amount + , charged quarterly
Foreclosure within 2 years2% of theo-balance + 3% of theo-balance +
Seizure / parkingActual chargesActual charges
  • No is inferred from the fixed scheme rate or 1-year reference.
Auto Loan Key Facts Statement · Pages 1–2, Part 1 item 10 and field · accessed 29 Aug 2026Open official source ↗
Table 3 · 5 rows · 2 columnsSBI Assured Car Loan — amount and securityPublished product-page terms retained as a compact table.View tableHide table

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SBI Assured Car Loan — amount and security
ItemPublished treatment
Loan amountMinimum ₹1 lakh; maximum no limit
Security / marginFixed deposit equal to 100% of vehicle on-road price, charged to
AgeMinimum 18 years; no upper age limit
IncomeApplicant's declared income accepted; / ratio not applicable
Repayment3–7 years, as chosen by customer
Assured Car Loan Scheme · Features · effective 8 Sept 2026 · accessed 8 Sept 2026Open official source ↗
Table 4 · 1 row · 3 columnsSBI Assured Car Loan — current interest rateExact scheme-specific rate and the MCLR group printed on SBI’s current fixed-rate table.View tableHide table

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SBI Assured Car Loan — current interest rate
SchemePublished rateRate-card reference and treatment
Assured Car Loan8.40%–9.35%3-month : 8.25%; fixed at disbursement
  • page labels these as fixed rates: the rate applied at disbursement remains the same for the entire loan period.
  • The rate table prints percentage values but does not append “p.a.” to the rows; this transcription does not add that unit.
  • Current page date: Last Updated On 16-09-2026.
Auto / Vehicle Loans Interest Rates · Scheme rows and relevant heading; last updated 16-09-2026 · accessed 6 Oct 2026Open official source ↗
Table 5 · 19 rows · 3 columnsSBI Auto Loan MITC — conditions, fees and service chargesText reviewed page-by-page from the 2-page official MITC; this table preserves the source’s exact distinctions between shared rules, new-car-only rules, and charges explicitly headed “under SBI Car Loan.”View tableHide table

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SBI Auto Loan MITC — conditions, fees and service charges
TopicPublished termApplicability / source scope
Products named Car Loan; Loyalty Car Loan; Car Loan; Assured Car Loan; Two-Wheeler Loan; Super Bike Loan.Page 1 — explicit covered-product list
Car-loan purposePurchase of new/used cars, and .Page 1 — purpose
Maximum tenorUp to 84 months on fixed interest rate.Page 1 — loan tenure
General car-loan Maximum 85% of on-road price; maximum loan amount 100% of ex-showroom price.Page 1 — ; product-page discrepancy is recorded separately
Interest calculationDaily reducing balance with monthly rests; Car Loan rate is fixed and -based at sanction in this .Page 1 — rate and calculation
Penal interestFor loan amounts above ₹25,000, if irregularity exceeds the /installment amount for one month: 2% per month over the applicable rate on overdue amount for the default period; no penal interest for loans up to ₹25,000.Page 1 — penal interest
Cheque// dishonour₹250 + for each bounced cheque, or Standing Instruction dishonour; says the charge may vary.Page 1 — dishonour
Repayment setupSet the monthly repayment date to coincide with the borrower’s major income flow; bank may use when available.Page 1 — repayment
Prepayment and foreclosurePre-payment penalty NIL in new-car loan; gives 2% of closure amount + for fixed-rate new-car foreclosure within 24 months.Page 1 — prepayment/foreclosure; later Auto Loan provides current covered-scheme detail
Vehicle hypothecation / RCMark hypothecation in vehicle registration; submit the original RC for lien verification within 120 days; delay beyond 120 days may incur ₹2,500 + per month until registration/lien noting.Page 1 — security
InspectionInitial inspection; thereafter periodic inspections waived for a standard asset. After one monthly instalment defaults, inspection is required and costs ₹350 + each time.Page 1 — inspection
processing fee (new car fixed-rate wording)Up to ₹5 lakh: ₹750 + ; above ₹5 lakh to ₹10 lakh: ₹1,200 + ; above ₹10 lakh: ₹1,500 + . The current 01-10-2026 fee page now prints different New Car amounts and no amount in its /Loyalty/Green rows; do not apply this older schedule to those blank rows.Page 1 — fee schedule
Other charges scopeUnder the heading “Other charges under Car Loan”: VAHAN search ₹50 + ; cheque/ swap ₹400 + ; amortization schedule ₹100 + ; duplicate account statement ₹112 + ; pre-payment statement ₹100 + ; duplicate NOC ₹300 + ; petrol-to-/CNG conversion NOC ₹400 + ; NOC revalidation ₹400 + ; loan rescheduling ₹500 + .Page 1 — other charges under Car Loan; variant applicability is not separately mapped
Borrower-paid incidentals and taxBorrower bears valuer fees, insurance premium, stamp duty, registration/CERSAI registration, VAHAN hypothecation verification, /telecalling and other incidental costs; government taxes may be collected as applicable.Page 1 — incidentals/tax
Disbursement and Disbursement to supplier/dealer via / or after statutory compliance; all loans require verification before sanction.Page 1 — disbursement and
Comprehensive vehicle insuranceKeep the vehicle comprehensively insured for market value or at least 10% above outstanding loan, whichever is higher; note the bank’s financier interest; renew annually until all dues are repaid.Page 2 — insurance
Application disposition timeComplete applications with required documents: 2 days at urban centres and 4 days at rural centres. Keep separate from the linked form’s 15-day notice statement.Page 2 — TAT
Default reminders may send repayment reminders by post, fax, telephone, email, or appointed collection agencies.Page 2 — default
Credit bureau disclosure may inquire with credit bureaus and disclose account/credit/default data to authorized agencies under the terms stated in the .Pages 1–2 — disclosure
  • dated 17-02-2024 explicitly names six products; it does not name the Green Car Loan or Certified Pre-owned Car Loan.
  • The source labels the processing fee as a new-car fixed-rate schedule and other charges under Car Loan. Do not assume these amounts apply to , Loyalty, Assured, Two-Wheeler or Super Bike where the source does not specify.
  • The current fee page updated 01-10-2026 supersedes the older New Car processing-fee rows; the , Loyalty and Green rows are blank on that current page.
  • current page (updated 11-07-2024) says up to 90% of on-road price; this older, broader says max 85% of on-road and 100% ex-showroom. does not reconcile the difference.
  • The current Auto Loan already reviewed 29-08-2026 is retained as the newer source for product-specific /contingent-charge facts; this table does not replace it.
  • target timing (2 urban/4 rural days) and linked application-form mail notice (within 15 days) are preserved as separate statements.
Auto Loan Most Important Terms and Conditions · Pages 1–2; complete extracted page text manually reviewed; effective date 17-02-2024 · accessed 6 Oct 2026Open official source ↗

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