When it comes to financing your dream car, the State Bank of India (SBI) is a top choice for many Indians. With attractive interest rates, flexible repayment options, and customer-friendly policies, SBI makes car ownership easier and more affordable. Let’s have a look at the SBI car loan latest interest rate
SBI Auto Loans Interest Rates
(Fixed Rate-Interest Rate applied at the time of disbursement will remain same for the entire loan period)
| Scheme | (1-year MCLR: 8.95%) | |
|---|---|---|
| i) SBI Car Loan, ii) NRI Car Loan, iii) Assured Car Loan Scheme | From 9.15% to 10.10% | |
| Loyalty Car Loan Scheme | SBI Car Loan, NRI Car Loan | From 9.10% to 10.05% (CIC Based rates are applicable) |
| SBI Green Car Loan (For Electric Cars) | From 9.05% to 9.75% | |
| Certified Pre-owned Car Loan Scheme | From 11.70% to 15.20% (CIC Based rates are applicable). | |
| SBI Two-Wheeler Loan | 13.30% to 14.80% (0.50% Concession available for EV) | |
SBI Car Loan Interest Rate based on CIC scores
| CIC Score | Term of Loan | |||
|---|---|---|---|---|
| 3-5 Years | Above 5 Years | |||
| 800 & above | 0.20% + 1 Year MCLR | 9.15% | 0.30% + 1 Year MCLR | 9.25% |
| 775 – 799 | 0.35% + 1 Year MCLR | 9.30% | 0.45% + 1 Year MCLR | 9.40% |
| 757-774 | 0.45% + 1 Year MCLR | 9.40% | 0.55% + 1 Year MCLR | 9.50% |
| 721-756 | 0.70% + 1 Year MCLR | 9.65% | 0.80% + 1 Year MCLR | 9.75% |
| 700-720 | 0.95% + 1 Year MCLR | 9.90% | 1.05% + 1 Year MCLR | 10.00% |
| 650-699 | 1.05% + 1 Year MCLR | 10.00% | 1.15% + 1 Year MCLR | 10.10% |
| -1 (NTC) | 9.40% to 9.75% | |||
SBI Bike Loan Interest Rate
| S.No. | CIBIL Score | Salary Package customers / Defence salary package customers including CAPF, ICG etc / Pensioners maintaining pension account with us (W.e.f. 15th October 2024) | Other Salaried and Pensioners, Self Employed, Businessman & Agriculturalists (W.e.f. 15th October 2024) | ||
|---|---|---|---|---|---|
| 1 | >756 | 3.85% + 1 Year MCLR | 12.80% | 4.35% + 1 Year MCLR | 13.30% |
| 2 | 721-756 | 4.35% + 1 Year MCLR | 13.30% | 4.85% + 1 Year MCLR | 13.80% |
| 3 | 700-720 | 4.85% + 1 Year MCLR | 13.80% | Minimum CIC score required: 731 | |
| 4. | New to Credit | 4.85% + 1 Year MCLR & 5.35% + 1 Year MCLR | 13.80% to 14.30% | New to credit Businessmen & Agriculturist customers are not eligible. | |
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