SBI Green Car Loan: SBI Green Car Loan is a type of car loan that has been launched by SBI. You will get SBI Green Car Loan only on buying electric car.
Keeping in mind the environmental pollution, governments want to increase the trend of electric cars. However, at present only Delhi, Mumbai and other metros have electric cars and their number is also less. In comparison to petrol cars (electric cars india), pollution from electric cars is less spread but it is also cheaper in terms of fuel consumption, although the price of these cars is still higher than normal cars.
However, if you want to contribute in reducing the electric cars and air pollution and buy electric cars instead of petrol and want to be a part of the Green India Movement, then State Bank of India (State), the largest government bank in the country bank of India) has brought special loan scheme for the purchase of electric cars. This scheme is the State bank of India green car loan scheme.
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If seen, in today’s era, every person wants to have a car. Nowadays, apart from petrol and diesel cars, electric cars are also being sold in the market. To boost the sales of these electric cars, SBI has brought a Green Car Loan. With this help, you can take a loan for electric car at a low interest rate.
What is SBI Green Car Loan?
SBI Green Car Loan is a type of car loan that has been launched by SBI. You will get SBI Green Car Loan only on buying electric car. On taking it, you will have to pay less interest than other car loan. Apart from all these, you will get more time than other loans to repay this loan.
Benefits of SBI Green Car Loan
– You will have to pay 0.20 percent less interest on SBI Green Car Loan.
– You have to repair SBI Green Car Loan in 8 years. Usually, you have to repair SBI’s normal car loan in 7 years. SBI is giving you full 8 years to complete this loan.
– SBI finances 90 percent of the on road price of the vehicle in SBI Green Car Loan. On Road Price includes registration, insurance, extended warranty, total service package, annual maintenance contract, cost of accessories, etc.
Documents required for Green Car Loan
To get a green car, you will be accepted some documents including passport, PAN card, voter card, Aadhaar card, driving license, as an identity card.
Apart from these, certificates related to your residence like electricity bill, voter card, Aadhaar card etc. will be accepted.
– To take a SBI Green Car Loan, you have to give a bank statement of the last 6 months. Apart from this, if you are employed, then you have to give your latest salary slip and copy of Forum 16 to buy a car.
– If a businessman wants to take SBI Green Car Loan, then he has to give his 2 year return.
– If a person associated with agriculture sector wants to take a green car loan, then he has to see the documents of land.
Income for SBI Green Car Loan
– Those government employees whose salary is at least Rs 3 lakh per annum, can get maximum 48 times their net monthly income from SBI as a loan.
– Businessmen, professional and private workers can get 4 times the total taxable income or net profit after adding depreciation and payment of all the loans in ITR.
– Individuals belonging to the agricultural sector, who have an annual income of Rs 4 lakh, can get a loan of 3 times their annual income.
If you are taking an electric car and are thinking of a loan for it, then you can take SBI Green Car Loan because you get a lot of facilities in it. If you want to take a car loan for a long time period with low interest, then you can take SBI Green Car Loan.