Corporation Bank vs SBI

I am searching for Interest rates on Vehicle Loan by Corporation Bank. My brother suggested me to apply for this Loan at SBI Bank. So will you please provide interest rates of Corporation Bank and SBI Bank for Vehicle Loan?

As you want to know about interest rates for Vehicle Loan by Corporation Bank and SBI Bank, so here I am providing interest rates of both banks here:

Corporation Bank Vehicle Loan Interest Rate
MCLR w.e.f 01.04.2017 ( % ): 8.75

Effective ROI % Processing Fees
Two Wheeler Loan [personal use] 12.35 Two/Three-wheeler:
[CVEHI] 0.50% Min. Rs.500/-

Personal Vehicles upto Rs 50 Lakhs 9.40 1% of the loan amount
[personal use] [CVEHI] subject to minimum Rs.1000/?

Personal Vehicles Above Rs 50 9.90 1 % Min. Rs 1000/-
Lakhs [Personal use] [CVEHI]

Commercial Vehicles /Vehicles 11.10 0.75%, Min. of Rs.2000/-
used for commercial purposes, irrespective
of loan amount & CGTMSE cover [CCVL]

State Bank of India Vehicle Loan Interest Rate

Tenure Interest rate
For Men For Women

SBI Car Loan Scheme
For All Tenure 1.25% above 1 year 1.20% above 1 year
MCLR i.e. 9.25% p.a. MCLR i.e. 9.20% p.a.

SBI Combo Loan Scheme
For All Tenure 1.25% above 1 year 1.20% above 1 year
MCLR i.e. 9.25% p.a. MCLR i.e. 9.20% p.a.

NRI Car Loan
For All Tenure 1.25% above 1 year 1.20% above 1 year
MCLR i.e. 9.25% p.a. MCLR i.e. 9.20% p.a.

Certified Pre-owned For All Tenure 4.65% above 1 year MCLR
car loan i.e. 12.65% p.a.

SBI Loyalty Car Loan Scheme
Car Loan, Combo 1.15% above 1 year 1.10% above 1 year
Loan, NRI Car Loan MCLR i.e. 9.15% p.a. MCLR i.e. 9.10% p.a.

SUPER BIKE LOAN SCHEME
For All Tenure 3.65% above 1 year MCLR i.e. 11.65% p.a.

Two Wheeler Loan Scheme
For All Tenure 9.25 % above 1 Yr. MCLR, effective rate 17.25 % p.a

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Answered By StudyChaCha Member