State Bank Of Mysore Car Loan

Hi buddy can you here tell me about require eligibility and documents for apply State Bank of Mysore Car Loan, as I want to apply for it ??

As you want to apply for State Bank of Mysore Car Loan and asking for eligibility and require documents ,so on your demand I am providing same for you :


Eligibility

Salaried professionals (public & private sectors) – Minimum NAI of Rs.3 lakhs. Maximum loan amount assured will be 48 times of NMI.

Other Salaried & Pensioners- Minimum NAI of Rs.4 lakhs.

Self Employed Professionals- Minimum Net Profit or Gross Taxable Income of
Rs.4 lakhs as per ITR. Maximum loan amount assured will be 4 times of NMI.

Agriculturists- Minimum Net Annual income of applicant and/or co-applicant together at Rs.4 lakhs. Maximum loan amount assured will be 3 times of NAI.


Documents require
1. Signed application form with photograph
2. Photo ID and age proof
3. Residence proof
4. Last 6 months bank statement
5. Documentation for salaried applicants:
Last 3 months salary – slips
Form 16 or Income Tax Returns
6. Documentation for self-employed applicants:

Last 3 years Income Tax Returns with computation of Income
Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account


State Bank of Mysore Car Loan Interest Rates
Interest Rate 10.00%
Processing Fees 0.20 % of the loan amount with a minimum of Rs.500/- and maximum of Rs.10,000/-
Loan Tenure 1 year to 7 years
Pre-closure Charges Nil
Guarantor Requirement Guarantor required

__________________
Answered By StudyChaCha Member