State Bank Of India (SBI) is Offering Car loan at 0% processing fees

State Bank of India (SBI) takes processing fees on its customers for various loans such as Gold loan, Personal loan, Auto/Vehicle loan etc. But currently, they are taking zero processing fees on Auto loans till 31st March 2019.

State Bank of India imposes Rs.1500 + GST fee on loans above Rs.6 lakhs and for loans upto Rs.6 lakhs they impose Rs.1000 + GST fee. According to the State Bank of India, In order to avail the interest rate benefit on loans of Rs 5 lakh and above, from both credit information companies the low credit score will be considered.

Let us inform you that the State Bank of India had revised the fixed interest rate on Auto loans on December 10, 2018. According to the bank, the interest rate on car loan scheme, NRI car loan, SME retail car loan is 9.3 percent to 9.8 percent.

It is known that interest rates applicable on SME retail car loans will not apply to taxis, transport operators and fleet segments.

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