SBI raises the car loan eligibility limit to Rs. 6 lakh per annum

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rahul
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Joined: Tue Jun 25, 2013 3:49 pm

SBI raises the car loan eligibility limit to Rs. 6 lakh per annum

Post by rahul » Thu Sep 12, 2013 9:44 am

Individuals with annual income of less than Rs. 6 lakh will not get a car loan from State Bank of India (SBI) as the bank has tightened eligibility conditions for its four-wheeler loan scheme with a view to minimising possible defaults.

The eligibility limit for loan issuance to salaried individuals for car purchase has been raised from Rs. 2.5 lakh per annum to Rs. 6 lakh per annum, as per a recent circular by the bank. For SBI account holders, the limit has been raised to Rs. 4.5 lakh per annum.

SBI currently offers car loans at an interest rate of 10.45 per cent, as per the bank's website.
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shilpa
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Joined: Wed Jul 10, 2013 3:08 pm

Re: SBI raises the car loan eligibility limit to Rs. 6 lakh per annum

Post by shilpa » Wed Sep 18, 2013 10:24 am

Ohhh noooo

What about other banks?
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