State Bank Of Travancore Car Loan Interest Rate at 8.55% to 14.65%

INTEREST RATE8.55% to 14.65%
LOAN TENUREMax. 84 EMI
PROCESSING FEEAs decided by the bank from time to time
GUARANTOR REQUIREDYes
PRE CLOSURE CHARGESAs decided by the bank from time to time
Note: Updated on Feb 2023, for latest interest rates, please visit bank website.

About State Bank Of Travancore

State Bank Of Travancore is a public sector bank in india. It has headquarter in Thiruvananthapuram. State Bank Of Travancore was founded on Sept. 12, 1945. It has 36163 branches and

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about State Bank Of Travancore which includes State Bank Of Travancore Official Website, State Bank Of Travancore ATMs accross the India, State Bank Of Travancore Branches accross the India, State Bank Of Travancore Contact Numbers, State Bank Of Travancore official EmailID, State Bank Of Travancore Headquarter and State Bank Of Travancore Headquarter Address. Find State Bank Of Travancore Car loan purpos, Eligibility, Margin, Repayment of Car Loan ,Security, Documents Required for Car Loan from below.

Other Products of State Bank Of Travancore:

Home LoanPersonal Loan
Education LoanBusiness Loan
Car LoanTwo Wheeler Loan
Gold LoanFD Interest Rates
RD Interest RatesBank ATMs
PPF Account 

State Bank Of Travancore Car Loan Purpose

For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs and Pre-owned Car, not more than 5 years old...

State Bank Of Travancore Car Loan Eligibility

  1. Age: 21 to 60 years.
  2. Permanent employees of State/Central Govt., Public Sector Undertakings, Corporations, Private Sector Companies and reputed establishments.
  3. Professionals, self-employed and others who are income tax assessees and persons engaged in agriculture and allied activities.

State Bank Of Travancore Car Loan Documents Required

  1. Applicant's latest photograph.
  2. Age Proof- Mark sheets/pass certificates of S.S.C., H.S.C, Degree courses (Optional)
  3. KYC (Know Your Customer) Documents.
  4. Identity Proof (any one): Voter's ID, PAN card, driving license, passport.
  5. Address Proof (any one): Voter's ID, PAN card, driving license, passport, electricity bill, telephone bill or ration card.
  6. Income Proof (any one): Latest salary slip, previous year's Form 16, bank statement for the last 6 months.
  7. Bank Statement or Bank Pass Book of having entries of last 6 months

State Bank Of Travancore Car Loan Amount

New Car - The loan will be given on individual basis looking into applicant's income and repayment capacity.
Pre-owned Car - Maximum 48 times of the Net Monthly Income for salaried applicants and 4 times Net Profit or Gross Taxable income for Professionals, Self-employed, Businessmen, proprietary/partnership firms, etc.

Margin

15% - 20% of on-road cost

State Bank Of Travancore Car Loan Repayment

New Car - Maximum 84 Months
Pre-owned Car - 8 years minus the age of the vehicle subject to a maximum tenure of 5 years.

Security

Hypothecation of vehicle. RC|comprehensive insurance policy with bank clause incorporated there in.

Tips to Manage Car Loan in a Better Way

(1) Make Proper Schedule for EMIs to be paid

You must make a proper schedule for payment of your EMIs in time and without any hassle or burden.

(2) Never Skip any Payment

Automatic transfer from your bank account is the best option that will make sure that the EMIs are paid every month without fail. In this way, none of the EMIs will skip. This will also help improving your credit score.

(3) Keep Loan Tenure Small

You must keep the car loan tenure as small as possible if your finances permit. It will be beneficial for you in two ways. First, you will get rid of loan in an early manner and second, your interest outgo will be very less as compared to longer tenure car loans.

(4) Make one Extra Payment Every Year

You must try to make an extra payment of loan amount each year. You can do so when you receive any funds like bonus etc. It will reduce your loan tenure or EMIs.

(5) Refinance your Car Loan

You must keep watching other institutions who are offering car loans and their interest rates. If other institution is offering you a car loan at lower interest rate, it would be beneficial to get your car loan refinanced from that institution.

Benefits of Car Loan

  • Higher Loan Amount: Banks offer you a car loan of up to 80-100% of the on-road price of the car in case of new cars. The on-road price of a car includes the ex-showroom price, state government tax and insurance cost of the car.
  • No Need to Liquidate your Investments: If you avail car loan then there is no need to liquidate your investments which you have made for some other purposes.
  • Flexible Tenure: You can go for any loan repayment tenure ranging from 1 year to 7 years according to your choice.
  • Tax Benefits: Car Loan can help you save on tax if you are a self-employed person/ businessman and use the car for legitimate business purposes. If you are a self-employed person/ businessman, you can claim the interest paid on car loan as a business expense. In this way, your taxable income will get reduced by the amount of interest you have paid in a financial year on car loan.

Contact details of State Bank Of Travancore, State Bank Of Travancore SMS balance check number, State Bank Of Travancore SMS banking, State Bank Of Travancore mobile banking, State Bank Of Travancore toll free number,State Bank Of Travancore toll free number 24*7, State Bank Of Travancore miss call number.

  • MISSED CALL NUMBERS - 1800 270 2525
  • CUSTOMER CARE NUMBERS - 1800112211
  • CONTACT NUMBERS - 18004255566

State Bank Of Travancore Contact Details

  • BANK OFFICIAL WEBSITE - www.sbi.co.in
  • CONTACT NUMBERS - 18004255566
  • EMAIL ID - customerservice@sbt.co.in, md@sbt.co.in
  • MISSED CALL NO. - 1800 270 2525
  • CUSTOMER CARE NO. - 1800112211
  • TOTAL BRANCHES - 36163
  • HEADQUARTER - Thiruvananthapuram
  • BANK ADDRESS - Head Office,Post Box No.2704, Poojapura Thiruvananthapuram 695012 (Kerala)
State Bank Of Travancore EMI Calculator State Bank Of Travancore Branches  
State Bank Of Travancore Car Loan FAQsCar Loan Document Required

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