Pre-approved offers & loan tracking for SBI account holders.
Dealership tie-ups speed up processing—SBI partners with many dealers.
Check models, on-road prices and profit margins to plan loan amount.
Plan tenure and monthly cash flows.
Vehicle history & valuation useful for used-car loan underwriting.
Bundle insurance to save on upfront costs and sometimes reduce margin calls.
Scan vehicle RC & income proofs for faster onboarding.
For NRIs paying initial down payment or EMIs from abroad.
Inspection reports required for some used-car loans.
Auto reminders to avoid overdue EMIs and protect credit score.
Salaried applicants need salary slips, employer details and bank statements; self-employed require ITR & business bank statements. NRIs must provide passport, visa/residence permit and overseas income documents; link an NRE/NRO account for EMI debit.
Car loan rates are lower than unsecured loans. Choose a tenor that keeps EMI affordable; consider longer tenor only if necessary because total interest increases with tenure.
Used-car loans often have higher margins and shorter tenures; vehicle inspection and resale value determine LTV. For new cars, lender accepts dealer invoice & sanction is smooth with dealer tie-up.
Choose SBI if you have a relationship with the bank—pre-approved offers and YONO integration speed up disbursal. For NRIs, ensure remittance path and tax compliance are in place before buying.