Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible collateralSBI fixed deposit covering 100% of the vehicle's on-road price, with charge created in favour of the bank
Source 1Current fixed interest-rate range8.70% to 9.85% p.a.
Source 2Published loan rangeMinimum ₹1 lakh; no published maximum
Source 3Published repayment period36 to 84 months
Source 4Age and income treatmentMinimum age 18 with no upper age limit; declared income is accepted and EMI/
Source 5Processing feeNil
Source 6Benefits and features
- No published maximum loan amount
- No published upper age limit
- No EMI/NMI ratio
- Nil processing fee
- Seven-year maximum tenor
Eligibility
- An eligible SBI 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 KYC
- Six months' bank statements
- Photographs
- Fixed-deposit charge documentation