Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
PurposePurchase of a certified pre-owned car
Source 1Current fixed interest-rate range10.45% to 15.60% p.a., with CIC-based pricing
Source 2Published loan range₹2 lakh to ₹1.5 crore
Source 3Maximum loan-to-value85% of SBI-accepted vehicle valuation
Source 4Maximum repayment period10 years minus vehicle age, capped at 60 months
Source 5Minimum annual income₹3 lakh for salaried, self-employed, professional and business applicants
Source 6Processing fee1.50% of loan amount, minimum ₹3,000 and maximum ₹10,000, plus GST
Source 7Benefits and features
- Loan up to ₹1.5 crore
- Up to 85% of valuation
- Five-year maximum tenor
- CIC-based fixed pricing
Eligibility
- Applicants must be 21 to 67 when applying and repay before age 70.
- The vehicle-age formula may shorten the five-year maximum.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Income evidence and recent bank statements
- Certified vehicle documents and valuation
- Passport and visa evidence where required for NRI applicants