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Personal, home, vehicle & other loans

New Car Loan

Fixed-rate finance for a new passenger car, or , with up to 100% of on-road price, rates from 8.70% to 9.85% and repayment up to seven years.

Current fixed interest-rate range8.40%–9.35% (fixed at disbursement)Maximum financeUp to 100% of on-road price, further constrained by income multiples and underwritingMaximum amountUp to 100% of the on-road price for a new passenger car, MUV or SUV, subject to the published category, income and LTV conditions.
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Quick eligibility check

New Car Loan

0 of 8 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.

1Do you meet this requirement: ₹3 lakh for specified employees and tax assessees?

Published source: Minimum published annual income

2Do you meet this requirement: ₹4 lakh for applicants engaged in agriculture and allied activities?

Published source: Minimum published annual income

3Does your age meet this requirement: Applicants must be aged 21 to 70 and meet the published category-specific income rules?

4Are you this type of customer: Actual rate depends on CIC score, customer segment and tenor?

5Document checkDo you have this required document or proof: Application and KYC?

Published source: Minimum published annual income

6Document checkDo you have this required document or proof: Income evidence appropriate to applicant category?

Published source: Minimum published annual income

7Document checkDo you have this required document or proof: Recent bank statements?

Published source: Minimum published annual income

8Document checkDo you have at least one of these required documents: Vehicle quotation and registration or insurance documents?

Published source: Minimum published annual income
0 of 8 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 6 Oct 2026 · active
Offered byState Bank of India

India, subject to credit assessment and eligible vehicle purchase

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 vehicleNew passenger car, multi-utility vehicle or SUV; finance is calculated on on-road price including registration and insuranceView source
The page publishes daily-reducing-balance interest and no advance .
Source
New Car Loan Scheme
Page / section
Salient Features
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Maximum financeUp to 100% of on-road price, further constrained by income multiples and underwritingView source
Published maximums are 48 times for specified employees, four times eligible income for tax assessees and three times net annual income for agriculturists.
Source
New Car Loan Scheme
Page / section
Salient Features and Eligibility
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Maximum repayment periodUp to 84 months, with optional reduced EMI for the first six or 12 months on qualifying tenorsView source
Flexi Pay eligibility depends on a minimum 36- or 60-month tenor.
Source
New Car Loan Scheme
Page / section
Salient Features and Flexi Pay
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Minimum published annual income₹3 lakh for specified employees and tax assessees; ₹4 lakh for applicants engaged in agriculture and allied activitiesView source
Applicant age is published as 21 to 70 years.
Source
New Car Loan Scheme
Page / section
Eligibility
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Prepayment and foreclosureNo prepayment charge; no foreclosure charge after two yearsView source
The page distinguishes prepayment from foreclosure after two years.
Source
New Car Loan Scheme
Page / section
Salient Features
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
Loan typeVehicle loanView source
The official product name identifies this as “ New Car Loan”.
Source
New Car Loan — official product page
Page / section
Official product name and loan classification
Accessed
13 Aug 2026
Confidence
high
Open official source ↗
TenureUp to 84 months, with optional reduced EMI for the first six or 12 months on qualifying tenorsView source
Flexi Pay eligibility depends on a minimum 36- or 60-month tenor. This is the issuer-published maximumTenure value shown under the comparison field “Tenure”.
Source
New Car Loan Scheme
Page / section
Salient Features and Flexi Pay — 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 amountUp to 100% of the on-road price for a new passenger car, MUV or SUV, subject to the published category, income and LTV conditions.View source
The official page states financing up to 100% of on-road price and publishes category-specific maximum-loan formulas in its Eligibility table.
Source
New Car/Vehicle Loan — official product page
Page / section
Salient Features — Financing Upto 100% of On-road Price
Accessed
14 Sept 2026
Confidence
high
Open official source ↗
Current fixed interest-rate range8.40%–9.35% (fixed at disbursement)View source
groups Car Loan, Car Loan and Assured Car Loan at 8.40%–9.35% under the 3-month heading of 8.25%. The page says the rate fixed at disbursement remains the same for the full loan period.
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 feeBy loan size: up to ₹5 lakh — ₹1,000 for salaried/pensioners or ₹1,500 for non-salaried; above ₹5 lakh to ₹10 lakh — ₹2,000 or ₹2,500; above ₹10 lakh — ₹3,000 or ₹4,000; plus GST.View source
The current Auto Loan tab prints the fee for Car Loan: By loan size: up to ₹5 lakh — ₹1,000 for salaried/pensioners or ₹1,500 for non-salaried; above ₹5 lakh to ₹10 lakh — ₹2,000 or ₹2,500; above ₹10 lakh — ₹3,000 or ₹4,000; plus .
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

  • Up to 100% of on-road price
  • Rates from 8.70% p.a.
  • Seven-year maximum tenor
  • Daily-reducing balance
  • Flexi Pay option

Eligibility

  • Applicants must be aged 21 to 70 and meet the published category-specific income rules.
  • Actual rate depends on score, customer segment and tenor.

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

Documents the bank lists

  • Application and
  • Income evidence appropriate to applicant category
  • Recent bank statements
  • Vehicle quotation and registration or insurance documents

Related official documents

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
↗
SBI New Car/Vehicle Loan — official product pageofficial-product-page · current · accessed 14 Sept 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.

· Standard auto loanNot published; field blank

This value is copied from Auto Loan — and prepayment treatment. Check the table notes before relying on it.

Source: Auto Loan Key Facts Statement · Pages 1–2, Part 1 item 10 and field Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 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 2 · 6 rows · 4 columnsSBI auto loans — current scheme rate scheduleComplete scheme-level rate rows from SBI’s live table, retaining the separate MCLR headings and stated conditions.View tableHide table

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SBI auto loans — current scheme rate schedule
Scheme(s)Published rate headingPublished note
Car Loan; Car Loan; Assured Car Loan8.40%–9.35%3-month : 8.25%Fixed at disbursement
Loyalty Car Loan8.35%–9.30%3-month : 8.25%Fixed at disbursement
Green Car Loan (electric cars)8.30%–9.35%3-month : 8.25%Fixed at disbursement
Certified Pre-owned Car Loan10.45%–15.60%1-year : 8.70%-based rates
Two-Wheeler Loan11.70%–15.70%1-year : 8.70%0.50 percentage-point electric two-wheeler concession
Super Bike Loan12.55%–14.55%1-year : 8.70%Scheme row
  • states that the rate fixed at disbursement remains the same throughout the loan period.
  • Mean auto-loan rate for 2026–27: 9.08%; this is a bank-reported period average, not an individual offer.
  • The page prints percentage values but does not append “p.a.” to the rows; no such unit is inferred.
Auto / Vehicle Loans Interest Rates · Scheme rate schedule and groups; page last updated 16-09-2026 · accessed 6 Oct 2026Open official source ↗
Table 3 · 8 rows · 3 columnsSBI New Car Loan — current CIC and tenor rate matrixCurrent “Finer pricing for New Car Loans” matrix; the source publishes eight score rows without a salaried/non-salaried split.View tableHide table

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SBI New Car Loan — current CIC and tenor rate matrix
/ RSM score3–5 yearsAbove 5 years
CIC 800 and above8.40%8.50%
CIC 775–7998.55%8.65%
CIC 757–7748.65%8.75%
CIC 721–7568.90%9.00%
CIC 700–7209.15%9.25%
CIC 650–6999.25%9.35%
RSM NTC score 71 or above8.65%8.75%
RSM NTC score 41–708.90%9.00%
  • The page labels the matrix “Finer pricing for New Car Loans based on scores”; separate scheme rows list the broader ranges.
  • Do not apply this new-car score matrix to , Loyalty, Assured, Green, pre-owned, two-wheeler or Super Bike products without an explicit issuer mapping.
  • The page separately reports a mean auto-loan rate of 9.08% for 2026–27; this is not a score-tier rate.
Auto / Vehicle Loans Interest Rates · New Car Loan finer-pricing and RSM NTC tables; page last updated 16-09-2026 · accessed 6 Oct 2026Open official source ↗
Table 4 · 1 row · 3 columnsSBI 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 Car Loan — current interest rate
SchemePublished rateRate-card reference and treatment
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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