Auto Loans Interest Rates w.e.f. 01.10.2018 (Fixed Rate)

Scheme Interest Rate w.e.f. 01.10.2018 (1 year MCLR: 8.50%)

i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme, iv) SME Retail Car Loan Scheme   (excluding Taxi, Transport Operators and fleet segments in SME)

 

 

From 9.25% to  9.75%

 

 

Loyalty Car Loan Scheme

SBI Car Loan, NRI Car Loan and Combo Loan Scheme

For Men: 1.15% above 1 year MCLR i.e. 9.65% p.a.

For Women: 1.10% above 1 year MCLR i.e. 9.60% p.a.

 

(CIC Based rates are applicable)

Certified Pre-owned Car Loan Scheme

Men: 2.25% above 1 year MCLR i.e. 10.75% p.a.

For Women: 2.20% above 1 year MCLR i.e. 10.70% p.a.

Certified Pre-owned Car Loan Scheme

4.45% above 1 year MCLR i.e. 12.95% p.a.

Super Bike Loan Scheme

From 11.05% to 12.05% (CIC Based rates are applicable)

SBI Two-Wheeler Loan

9.05% above 1 year MCLR i.e. 17.55% p.a.

SBI Car Loan Lite

CIBIL Score Rate of Interest

>=750

2.80% above 2 Yr MCLR i.e. 11.40% p.a.

From 650 to 749

3.80% above 2 Yr MCLR i.e. 12.40% p.a.

 

Finer pricing for New Car Loans based on CIC scores w.e.f. 01.10.2018

Type of customers CIC scores Interest Rate w.e.f.    01.10.2018 (1 year MCLR: 8.50%)

Corporate Salary Package customers *

Not applicable

0.75% above 1 year MCLR i.e., 9.25% p.a.

Other than Corporate Salary Package customers **

CICs score of 750 and above #

0.75% above 1 year MCLR i.e., 9.25% p.a.

CICs score of 700 and upto 749 #

0.95% above 1 year MCLR i.e., 9.45% p.a.

CICs score of less than 700#

For Men: 1.25% above 1 year MCLR i.e., 9.75% p.a.

For Women: 1.20% above 1 year MCLR i.e. 9.70% p.a.

 

# For loan amount of Rs. 5.00 lacs and above, the lower CIC score will be considered from either of the two CICs to get the interest rate benefit as stated above.

* Corporate Salary Package customers would include all types of customers maintaining salary account with us with product specification as “Salary Package Accounts” in CBS. This would include employees of State/Central Government, PSUs, Corporations and Listed Pvt. Sector companies maintaining Corporate Salary Package account with us. This would also include Railway Salary Package, Police Salary Package, all Defense Salary Packages and PMSP Pensioners.

** Other than Corporate Salary Package customers would include Businessmen, Professionals/Self Employed, Agriculturist, Pensioners and other salary accounts.


Mean Rate for Auto Loans : 1.20% above 1 year MCLR