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Business, & agriculture finance

Car Loan

term loans in the unit's name for new petrol, diesel, CNG, hybrid or electric cars, up to ₹5 crore with 10%–15% margin and 5- or 7-year repayment.

Loan amountMaximum ₹5 crore overall; no cap per car and any number of cars may be taken within the overall limitPricingInterest rate is based on the proprietor/partner/promoter-director CIC score and the loan tenor; no single product rate is published in the feature tableTarget customersExisting-to-bank and new-to-bank SME units; all MSME and non-MSME units with the stated borrowing/current-account conditions
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Quick eligibility check

Car Loan

0 of 6 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Existing-to-bank and new-to-bank SME units?

Published source: Target customers

2Do you meet this requirement: all MSME and non-MSME units with the stated borrowing/current-account conditions?

Published source: Target customers

3Do you meet this product condition: Unit must have SBI borrowing or a qualifying 12-month current-account relationship?

Published source: Eligibility

4Do you meet this requirement: existing borrowing accounts must not be SMA-1 or worse in the last 12 months?

Published source: Eligibility

5Do you meet this requirement: Loans must be in the SME unit's name?

6Document checkDo you have this required document or proof: The page states account-vintage and account-quality conditions but does not publish a fixed applicant document checklist?

Published source: Documents
0 of 6 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 1 Sept 2026 · active
Offered byState Bank of India

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

PurposeTerm loan in an SME unit's name to purchase new passenger cars, jeeps, MUVs and SUVs for promoters, partners, directors or employees; demo cars are not financedEffective 9 Jan 2025View source
To provide car loans as term loan in the name of units, for purchase of only new cars... Financing for Demo Cars is not permitted.
Source
Car Loan — official product page
Page / section
Objective / Purpose
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Target customersExisting-to-bank and new-to-bank SME units; all MSME and non-MSME units with the stated borrowing/current-account conditionsEffective 9 Jan 2025View source
The loan can be extended in the name of Units, both Existing to Bank (ETB) and New to Bank (NTB). Loans in individual names shall not qualify.
Source
Car Loan — official product page
Page / section
Features — Target Group and Eligibility
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
FacilityTerm loanEffective 9 Jan 2025View source
Facilities Available: Term Loan.
Source
Car Loan — official product page
Page / section
Features — Facilities Available
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Loan amountMaximum ₹5 crore overall; no cap per car and any number of cars may be taken within the overall limitEffective 9 Jan 2025View source
Max. Loan amount-Rs 5.00 crores; Capping of each car loan: NIL; Overall cap: Rs 5.00 Cr.
Source
Car Loan — official product page
Page / section
Features — Quantum of loan
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
PricingInterest rate is based on the proprietor/partner/promoter-director CIC score and the loan tenor; no single product rate is published in the feature tableEffective 9 Jan 2025View source
Attractive Interest rates based on score of the Proprietor/Partner/Promoter Director and Tenor of the loan.
Source
Car Loan — official product page
Page / section
Features — Pricing
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Borrower margin10% of on-road price up to ₹25 lakh; 15% above ₹25 lakh to ₹5 croreEffective 9 Jan 2025View source
Up to Rs. 25 lakh: 10% of the on-road price; >Rs.25 lakh to Rs.5 Cr: 15% of the on-road price.
Source
Car Loan — official product page
Page / section
Features — Borrower's Margin / Contribution
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Repayment periodMaximum 5 or 7 years through EMIsEffective 9 Jan 2025View source
Maximum Repayment Period of 5 or 7 years through .
Source
Car Loan — official product page
Page / section
Features — Repayment Period
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Processing fee0.50% of loan amount, minimum ₹500 and maximum ₹10,000Effective 9 Jan 2025View source
0.50% of the loan amount (subject to min. of Rs. 500 and max. of Rs. 10,000).
Source
Car Loan — official product page
Page / section
Features — Processing Fee / Upfront Fee
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Other chargesAs per SBI guidelines and disclosed to the borrower before sanctionEffective 9 Jan 2025View source
Other Charges: As per Bank Guidelines which will be appraised to the borrower before sanction of loans.
Source
Car Loan — official product page
Page / section
Features — Other Charges
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
SecurityNot published as a separate collateral-security requirement on the reviewed pageEffective 9 Jan 2025View source
The complete page publishes purpose, target group, facility, amount, pricing basis, margin, tenor, fees and account conditions but no separate collateral-security rule.
Source
Car Loan — official product page
Page / section
Complete page review — Security
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
EligibilityUnit must have SBI borrowing or a qualifying 12-month current-account relationship; existing borrowing accounts must not be SMA-1 or worse in the last 12 monthsEffective 9 Jan 2025View source
Existing unit ... borrowing arrangement ... last 12 months subject to account not being in SMA-1 or worse; current-account customers require minimum vintage of 12 months.
Source
Car Loan — official product page
Page / section
Special Feature and Eligibility
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Turnover / vintageNot published as a numeric turnover or business-vintage threshold on the complete SME Car Loan page; SBI publishes 12-month account-vintage and account-quality conditions instead.Effective 9 Jan 2025View source
The complete page publishes 12-month ETB/NTB account routes and the SMA-1 account-quality condition but no numeric turnover or business-vintage threshold.
Source
Car Loan — official product page
Page / section
Complete page review — Special Feature and Eligibility
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Geographic limitsIndiaView source
The manually reviewed product record states: “India”.
Source
Car Loan — official product page
Page / section
Published product metadata
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
DocumentsThe page states account-vintage and account-quality conditions but does not publish a fixed applicant document checklist.View source
The manually reviewed product record states: “The page states account-vintage and account-quality conditions but does not publish a fixed applicant document checklist.”.
Source
Car Loan — official product page
Page / section
Published product metadata
Accessed
1 Sept 2026
Confidence
high
Open official source ↗

Benefits and features

  • Up to ₹5 crore overall limit with no per-car cap
  • Petrol, diesel, CNG, hybrid and electric new cars
  • 5- or 7-year repayment
  • Pre-existing ETB/NTB current-account routes

Eligibility

  • Loans must be in the unit's name; individual-name loans do not qualify and demo cars are excluded.
  • Existing borrowing/current-account vintage routes require 12 months and the account must not be SMA-1 or worse during the last 12 months.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • The page states account-vintage and account-quality conditions but does not publish a fixed applicant document checklist.

Related official documents

SME Car Loan — official SBI product pageofficial-product-page · current · accessed 1 Sept 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Eligible vehicles · Published termNew petrol, diesel, CNG, hybrid or electric cars; demo cars excluded

This value is copied from Car Loan — published terms. Check the table notes before relying on it.

Source: Car Loan — official product page · Purpose, Features, Special Feature and Eligibility Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 9 rows · 2 columnsSME Car Loan — published termsTerms published on SBI's official SME Car Loan page.View tableHide table

Scroll sideways to view every column

SME Car Loan — published terms
ItemPublished term
Eligible vehiclesNew petrol, diesel, CNG, hybrid or electric cars; demo cars excluded
Borrower unit (ETB or NTB); individual-name loans excluded
Amount₹5 crore overall; no per-car cap
Margin10% up to ₹25 lakh; 15% above ₹25 lakh to ₹5 crore
PricingBased on score and loan tenor
Repayment5 or 7 years through
Processing fee0.50%; minimum ₹500, maximum ₹10,000
Other chargesBank guidelines, disclosed before sanction
Account condition12-month vintage routes; SMA-1 or worse excluded for existing borrowing
  • Last updated on the page: 9 January 2025.
Car Loan — official product page · Purpose, Features, Special Feature and Eligibility · accessed 1 Sept 2026Open official source ↗

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