What is the current interest rate for SBI car loan?
Auto Loans Interest Rates (Fixed Rate)
| Scheme | Interest Rate (1 year MCLR: 7.00%) |
|---|---|
| Certified Pre-owned Car Loan Scheme | From 9.25% to 12.75% |
| Super Bike Loan Scheme | 3.25% above 1 year MCLR i.e. 10.25% p.a |
| SBI Two-Wheeler Loan | 16.25% p.a. to 18.00% p.a. |
What is the interest rate for car loan in Bangalore?
Interest Rates Offered by Top Lenders on Car Loans in Bangalore
| Bank | Interest rates | Minimum income |
|---|---|---|
| Axis Bank | 9.25% onwards | Rs.1.8 lakh p.a. to Rs.2.4 lakh p.a. |
| State Bank of India | 9.30% to 12.45% | Rs.2.5 lakh p.a. to Rs.4 lakh p.a. |
| HDFC Bank | 9.75% p.a. to 10.60% p.a. | Rs.3 lakh p.a. |
| Canara Bank | 8.95% to 9.60% | Rs.3 lakh p.a. |
What is the EMI for 3 lakh car loan?
Car Loan EMI Calculator SBI at different tenure
| Loan Amount | 2 Years | 3 Years |
|---|---|---|
| 1 Lakh | ₹ 4,489 | ₹ 3,099 |
| 3 Lakh | ₹ 13,466 | ₹ 9,297 |
| 5 Lakh | ₹ 22,443 | ₹ 15,496 |
| 10 Lakh | ₹ 44,886 | ₹ 30,992 |
What is SBI car loan limit?
Maximum – Rs.10 lakh. EMI/NMI (Net Monthly Income) Ratio. 50% for cars up to Rs.5 lakh. 70% for cars up to Rs.10 lakh. SBI Loyalty Car Loan Scheme (For SBI Home loan borrowers)
What is the EMI for 10 lakhs car loan?
What is a car loan EMI calculator?
| Loan amount | Loan tenure | EMI |
|---|---|---|
| Rs.5 lakh | 5 years | Rs.10,477 |
| Rs.10 lakh | 1 year | Rs.87,637 |
| Rs.10 lakh | 5 years | Rs.20,953 |
| Rs.15 lakh | 1 year | Rs.1,31,456 |
How much car loan can I get on 25000 salary?
Most lenders determine the maximum loan amount up to 10 times of your monthly salary. If you earn Rs. 25,000 per month, you may become eligible for up to Rs. 2.5 Lakhs.
How much car loan can I get on 40000 salary?
It is advised to customers that they restrict their car loans to not more than 20 percent of their monthly income. For example, if you make Rs. 40,000 per month, your monthly car loan EMI should not exceed Rs. 8,000.
Is SBI car loan interest rate fixed or floating?
SBI New Car Loan interest rate starts from 7.25% and SBI Used Car Loan interest rates starts from 9.75%. These are Floating rate loans and are one of the best car loan rates in India. Rate of interest vary by borrower occupation, loan amount and loan tenure.
How much car loan can I get on 20000 salary?
With the salary of Rs. 20,000 per month, you may become eligible for a maximum loan amount of Rs. 3 Lakhs. In case you do not qualify for a new car loan, you can also check your eligibility for a pre-owned car loan.
At what salary should I buy a car?
1. Follow thumb rules. There is a thumb rule of not spending more than half of your annual household salary on the car. An individual earning Rs 10 lakh a year should at best buy a car worth Rs 5 lakh.
Can I buy a car with 30k income?
If you have a monthly income of Rs 30,000 and aspire to buy a car, you can get a list of models including Tata Tiago, Tata Indica eV2, Maruti Suzuki Celerio, Hyundai i10 to choose from.