Move ahead in life with SBBJ Car Loans!
If you have been putting off purchasing that car, we invite you to go through SBBJ Car Loans scheme. Just step in to any of our 832 branches that offer Car Loans which will give wheels to your desire!
Low interest rates, easy repayment options, total transparency, low processing charges, and finance to include vehicle registration charges, insurance and one time road tax i.e. on road cost of vehicle.
You can apply for an SBBJ Car Loan to purchase :
A new car, jeep, Multi Utility Vehicle (MUV) or SUV (any make or model)
An old car / jeep / MUV /SUV (not more than 5 years old). (any make or model)
We even reimburse the cost of new vehicle purchased by you in past 2 years from your own sources.
Enjoy the SBBJ CAR LOAN Advantage :
Excellent service and lower costs. A quick survey of similar schemes available elsewhere and you will find that SBBJ Car Loans for new and old vehicles offer you
Lowest interest rates
Longer repayment period of upto 84 months.
Low processing charges.
No hidden costs or administrative charges.
Finance for one-time road tax, registration fee and insurance premium
No advance EMIs.(Some Banks/companies ask you to pay one or more EMIs at the time of disbursement of loan, thereby effectively reducing your loan amount.)
Complete transparency : We levy interest on daily reducing balance method. When you pay one instalment, the interest is automatically calculated on the reduced balance thereafter. When you pay interest on an annual reducing balance (as charged by many other companies/banks) the interest amount for the coming year is determined on the amount outstanding at the beginning of the year. You continue to pay interest even on the amounts you repay during the year.
Always compare the Equated Monthly Instalments (EMIs) and the total payments you would be required to make and not the rates of interest.
The Scheme
Purpose
You can take finance for
A new car, jeep or Multi Utility Vehicles (MUVs)
An old car / jeep (not more than 5 years old).
(Any make or model)
Eligibility
To avail an SBBJ Car Loan, you should be an
Individual between the age of 21-65 years of age.
A Permanent employee of State/Central Government, Public Sector Undertaking, Private company or a reputed establishment or
A Professionals or self-employed individual who is an income tax assessee or
A Person engaged in agriculture and allied activities.
With Net Annual Income Rs. 75,000/- and above.
Salient Features
Loan Amount
A maximum loan amount of 2.5 times the net annual income can be sanctioned. If married, your spouse's income could also be considered provided the spouse guarantees the loan The loan amount includes finance for one-time road tax, registration and insurance! There is no upper limit for the amount of a car loan for new car. It is decided by your repaying capacity.
Documents Required
You would need to submit only the following documents along with the completed application form if you are an existing SBBJ account holder:
Bank statement for the last 6 months
Two passport size photographs
Latest salary slip and Form 16, in the case of salaried persons
IT returns for the last two financial years, in the case of self employed individuals and professionals 3 years' IT returns.
If you are not an account holder with SBBJ you would also need to furnish documents that establish your identity and give proof of residence.
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