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arrow Special Car Loan Scheme 
 

Now You can own your dream car.....

only at Rs.1712/- per month......

State Bank of Mysore in association with Maruti Udyog Ltd., offers the most attractive car finance scheme for purchase of Maruti vehicles.

...No Hidden Costs
...No Advance EMIs

Salient features of the scheme:
 

Eligibility:
Individuals, Salaried class, Professionals and self employed with a minimum of 5 years standing.

Loan Amount:
a)
20 times the net monthly salary / income or 85% of the cost of vehcile on road which includes Road Tax + Insurance + Group Insurance of SBI Life (if availed) whichever is lower.
b)
For arriving at the loan amount, the salary/income of the spouse may be clubbed provided spouse guarantees the loan.

Margin:
15 % on the on-road cost of the vehicle
Rate of Interest:(wef 20/11/03)
Upto 36 months tenor
9.50%
Above 36 months upto 84 months
10.00%
Type of Loan: Medium Term Loan

Security:
Hypothecation of the car
Guarantee of spouse, if employed
Third party Guarantee

Insurance:
Comprehensive Insurance for full value of the vehicle.

Service Charges:
No Processing fee. No hidden costs. No pre-payment charges.
Disbursal:
Direct to the supplier (usual exchange for issue of BC/DD to be collected)
Repayment:
Repayable in 84 months in equated monthly instalments.
Inspection:
First Inspection after completion of formalities with RTO, annual inspection thereafter.

Other Conditions:
a) In case of Professionals / Self Employed persons Income Tax Assessment Order which should not be more than one year old should be produced.
b) Incase of employees of reputed Companies / State / Central Govt. etc., production of Income Tax Assessment Orders can be dispensed with and the salary certificates issued by the employers can be accepted provided "check-off" faciility is available.



Chief Manager
State Bank of Mysore
Personal & Services Banking Department
H .O.: K.G.Road, Bangalore - 560009, INDIA
Phone: 91 80 22353901 to 22353909 ; 22353473.extn.380
91 80 22353467 Fax: 91 80 22283684
Email:cmpsb@sbm.co.in

 

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