Get affordable finance for your pre-owned vehicle with State Bank of India.
Buying a used or pre-owned car is a smart choice for many individuals in India, especially those who want to save money while still enjoying the comfort of a personal vehicle. The SBI Used Car Loan provides financing at attractive interest rates, flexible repayment tenures, and minimal documentation. This loan is designed to make it easier for you to own a second-hand car without financial stress.
SBI offers one of the lowest interest rates for used car loans in India.
Get financing of up to 85% of the car’s valuation or on-road price.
Choose repayment periods from 1 to 7 years based on your convenience.
Minimal paperwork required, with digital processing for quick approval.
SBI’s online car loan EMI calculator helps you plan your budget effectively.
Loan approval and disbursal within a few working days.
Available across India through SBI’s extensive branch network.
Option to close the loan early with minimal foreclosure charges.
Some SBI branches also process NRI used car loans for those working abroad.
Backed by India’s largest public sector bank with customer-friendly terms.
To qualify for an SBI Used Car Loan, applicants must meet the following requirements:
You can get up to 85% of the car’s valuation, depending on eligibility and income.
Yes, SBI provides an online application facility for quick approvals.
The interest rate generally starts from 9.25% and varies based on applicant profile.
Yes, prepayment is allowed with minimal charges depending on the tenure.
The processing fee usually ranges between 0.5% to 1% of the loan amount.