SBI COMBO LOAN SCHEME
SBI provides the loan for purchase of Car and Two Wheeler taken together.
For purchase of Car and Two Wheeler taken together.
To avail the Loan, you should be :
a) Salaried and Pensioners:
a) Net Annual Income of applicant and/or co-applicant if any, together should be Rs. 2,50,000/-
b) Self employed, professionals and Proprietary/Partnership Firms:
Net Profit or Gross Taxable income of Rs. 4,00,000/- p.a. ( income of co-applicant can be clubbed together)
Net Annual income of applicant and/or co applicant together to be Rs. 4,00,000/-
For Salaried: The maximum loan amount is 48 times of the Net Monthly Income.
For Self employed, professionals and Proprietary/Partnership Firms : Up to 4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans
For Agriculturist: Up to 3 times of Net Annual Income
i) Submission of both the invoices alongwith application form.
a) Simultaneously for two vehicles
b) First Car Loan portion and then two-wheeler portion. But any case both disbursement should be within one month
You would need to submit the following documents along with the completed application form:
For borrowers with Net Annual Income upto Rs. 10 lac: 15% of 'On Road Price' of car (includes registration, insurance and Extended Warranty/ Total Service Package/ Annual Maintenance Contract/ cost of accessories)
For borrowers with Net Annual Income more than Rs. 10 lac: 15% on "ex-showroom price" or 20% on "On-road price", whichever selected by the borrower.
You can enjoy the longest repayment period of 84 months.
As per Bank's extant instructions.