SBI
SBI Car Loan
Data Verified
Last checked: 25 Feb 2026Best for SBI account holders who can use the YONO app for instant approvals and zero processing fees.
Financing for new cars with the option of financing up to 90% of the on-road price, offering the benefit of no hidden charges and lowest interest rates.
On-Road Price FundingYONO App Instant ApplyOverdraft Option (Lite)No Foreclosure ChargesCertified Pre-owned Option
Interest Rate
8.65%
Starts From p.a.
Max Tenure
7 Yrs
84 Months
Loan Amount
to
Up to 90% of on-road price
Expert Verdict
"SBI's car loan is high-value because it often funds the "on-road price" rather than just the "ex-showroom price." Applying via the YONO app often gets you a 0.25% interest concession and zero processing fees. Zero prepayment penalty is standard. Verdict: Best for on-road price funding."
Key Privileges
EligibilityAge 21-67, Salaried/Self-employed
Processing FeeNil (Online/YONO App) or up to ₹1,500
PrepaymentNil
Lock-inNone
DocumentationStandard KYC, 2 years ITR/Form 16, Bank statement
Start Application
Applying takes less than 5 minutes. You will need your PAN card and Aadhaar details handy.
Simplified Digital KYC
Instant Approval Check
Zero Physical Documentations
By clicking apply, you will be redirected to the official bank portal. FinanceMacha may earn a commission on successful approvals.
Eligibility Summary
- Min. Credit Score700+
- Min. Income₹3 lakh per annum
- EmploymentSalaried/Self