New cars get launched at Indian automobile segment every month. With the easy in availability of car loans, people are able to afford a four-wheeler without much hassle and even upgrade to a new one after a few years. Such demand is followed by a wide market for used car loans. And now banks and financial institutions are offering used car loans to ensure they reach to a wider consumer base.
Overview of SBH Bank Used Car Loan
A subsidiary of State bank of India, State bank of Hyderabad (SBH) has over 1500 branches across the country. SBH was established in 1941 and is regarded as one of the most trusted banks in the country. SBH provides a variety of financial services ranging from personal banking, MSME banking, agricultural banking, NRI banking, amongst others. SBH offers personal loans to individuals as well as a special scheme for pensioners.
Why Pick SBH Used Car Loan?
- No Processing Fees – SBH does not incur any processing fees for their used car loans.
- Margin – SBH used car loans have a margin of 15% of the total cost of the used car.
- Loan Sanction – Loan is sanctioned for used cars that are not older than five years.
- Extended Loan Tenure – Get used car loan for upto 7 years.
- Low Interest Rates – SBH bank offers a competitive interest rate that starts at 15.55% per annum.
Benefits of Applying SBH Used Car Loan at Letzbank
- Broad Loan Range – Letzbank is a one stop shop for all financial needs. You can choose from a variety of loan offerings at one place without having to visit different bank websites.
- Compare Loans – Easily compare loans offered by different banks with the simple filter tool according to your choices and requirements.
- Service Charge Waiver – Get the service charge waived off that is applicable on all loan applications when you apply for a loan directly at Letzbank website.
- EMI calculator – Calculate your loan EMI with ease with the help of Letzbank’s EMI calculator tool that only needs the loan amount, interest rate and loan tenure to calculate the EMI for you.
- Quick Apply feature – If you are in a hurry or unsure which is the best loan choice for you, rely on Letzbank to help you choose. Simply click on the Quick Apply button and enter a few basic details and a Letzbank representative will contact you.
- E-file IT Returns – Amongst the various services offered by Letzbank, you can file your income tax returns online with a click of a button. As some loans require filing of income tax returns as a mandate, this feature comes in handy.
- Check your Credit Score online – Check your credit score before applying for a loan to know your eligibility and your credit health at Letzbank website.
- Document Locker– Document Locker is a great tool offered by Letzbank that allows you to store your important documents online with utmost security and protection. This is useful when you need to apply for different loans and services on Letzbank and you can easily submit the documents online without much hassle.
SBH Used Car Loan Eligibility
SBH bank used car loan is offered to salaried, self-employed individuals and self employed non-individuals.
SBH Used Car Loan Interest Rates
Get loan upto Rs. 1 crore with an interest rate of 15.55% per annum only at Letzbank with a loan tenure of upto seven years.