Information about SBBJ Bank - 2018-2019 StudyChaCha

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Old June 19th, 2017, 03:08 PM
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Default Information about SBBJ Bank

I have my account in SBBJ Bank. I want to purchase a car, so I am thinking to apply for Four Wheeler Loan. So will you please give information about Interest rates for Four Wheeler Loan of SBBJ Bank?
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Old June 19th, 2017, 03:25 PM
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Join Date: Dec 2012
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Default Re: Information about SBBJ Bank

The SBBJ Bank has merged into State Bank of India on 1st April 2017.

So now I am giving information related to Four Wheeler Loan from SBI Bank for your reference:

State Bank of India Four Wheeler Loan


Salient features:
Lowest Interest Rates & EMI;
Financing on ĎOn-Road price':
Interest calculated on Daily Reducing Balance;
No Advance EMI;
Longest Repayment Tenure (7 years);
No Pre-Payment Penalty or Foreclosure Charges;
On-Road price includes Registration, Insurance and Extended Warranty/ Total Service Package/ Annual Maintenance Contract/ Cost of Accessories

We also reimburse finance for the cars purchased out of your own funds at rate of interest applicable to New Car Financing:
Optional SBI Life Insurance cover available;
Overdraft facility available.
Car should not be more than 3 month old

For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.

To avail an SBI Car Loan, you should be an individual aged 21 to 65 years, belonging to one of the following 3 categories:

Category: Regular employee of State / Central Government, Public Sector
Undertaking, Private Company or a reputed establishment.
Income Criteria: Net Annual Income of applicant and/or co-applicant if any, together should be a minimum of Rs. 2,50,000/-
Maximum Loan Amount: 48 times of the Net Monthly Income

Category: Professionals, self-employed, businessmen,
proprietary/partnership firms who are income tax assesses.
Income Criteria: Net Profit or Gross Taxable income of Rs. 4,00,000/- p.a. (income of co-applicant can be clubbed together)
Max Loan Amount: 4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans

Person engaged in agricultural and allied activities.
Income Criteria: Net Annual income of applicant and/or co applicant together should be a minimum of Rs. 4,00,000/-
Max Loan Amount:3 times of Net Annual Income



Statement of bank account for last 6 months.
2 passport size photographs
Proof of Identity
Address Proof
Income Proof: Latest Salary Slip, Form 16
I.T. Returns or Form 16 for the last 2 years.

Non-Salaried/ Professional/Businessmen

Statement of bank account for last 6 months.
2 passport size photographs
Proof of Identity
Address Proof
Income Proof: ITR for last 2 years
I.T. Returns or Form 16 for the last 2 years.
Audited Balance sheet, P&L statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.

Person engaged in agricultural and allied activities.
Statement of bank account for last 6 months.
2 passport size photographs
Proof of Identity
Address Proof
Direct agricultural activity (crop cultivation):
Khasra/Chitta Adangal (showing cropping pattern) Patta/Khatoni (showing land holding) with photograph.
All land should be on free hold basis and ownership proof to be in the name of borrower.
Allied agricultural activity (like Dairy, Poultry, Plantation/ Horticulture)
Documentary proof of running of the activities to be provided.

Proof of Identity : - (Copy of any one) Passport/ PAN Card/ Voters ID card/ Driving License etc.

Address Proof :- (Copy of any one) Ration card/Driving License/Voters ID card/Passport /Telephone Bill/ Electricity bill/Life Insurance policy

Net Annual Income upto Rs. 10 lac Net Annual Income more than Rs. 10 lac
85% of 'On-road Price' 85% of 'On-road Price'

You can enjoy the longest repayment period in the industry with us: 84 months.

Interest Rate
For All Tenure

For Men 1.25% above 1 year MCLR i.e. 9.25% p.a.

For Women 1.20% above 1 year MCLR i.e. 9.20% p.a
Answered By StudyChaCha Member
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