Scheme Details

Name of the Scheme


Margin Required/ LTV

15% of “Ex-showroom Price” of the vehicle (Up to 90% funding for SBI Salary Package /HNI/Wealth customers)

Age of Customer

Age of the applicant should be between 21-65 years.

Eligible Customer category

  • (i) Regular employees of State/Central Govt., Public Sector Undertakings, corporations, private sector companies, and reputed establishments.
  • (ii) Professionals, Self-employed, Businessmen, proprietary/partnership firms and others who are income tax assesses.
  • (iii) Persons engaged in agriculture and allied activities can also avail this scheme. Income Tax return is not required in case of agriculturists.

Minimum Income Criteria

  • (i) Salaried: Net Annual Income of applicant and/or co-applicant if any, together should be Rs 2.50 Lacs and above.
  • (ii) Self-employed, Professionals, Proprietary/Partnership firms and Businessmen: Net Profit or Gross Taxable income of Rs. 4 Lacs p.a. (income of co-applicant can be clubbed together for Self-employed, Professionals and Businessmen) as per ITR after adding back depreciation and deducting repayment of all existing loans
  • (iii) Agriculturists: Net annual income of applicant and/or co applicant together to be Rs. 4 Lacs

Minimum loan amount

Rs. 2.50 Lakhs

Repayment Tenure

Maximum up to 5 years