What Is The Rate Of Interest On A Car Loan In Sbi

SBI Bank provides auto loans at fixed interest rates under the schemes SBI Car Loan, NRI Car Loan, Assured Car Loan Scheme at interest rates from 8.00% to 8.70%. Under the Loyalty Car Loan Scheme, the SBI Car Loan and NRI Car Loan scheme provide loans at interest rates from 7.95% to 8.65% (CIC rates are applicable). Certified pre-owned car loan schemes(Loyalty Car Loan Scheme) at interest rates of 9.50% for man and 9.45% for women. The normal Certified pre-owned car loan schemes provide interest rates from 9.75% to 10.75% (CIC Based rates are applicable).

There is also a scheme called SBI Car Loan Lite where rate of interest is charged according to the customers credit score, if it is >=750 the rate of interest will be 10.45% per annum and if the credit score is from 650 to 749 the rate of interest will be 11.45%. The interest  rates depend on the credit history of the customer. Thus having a good credit history will be important to get low interest rates for your car loan.