SBI Bank provides auto loans at fixed interest rates under the schemes SBI Car Loan, NRI Car Loan, Assured Car Loan Scheme at interest rates from 8.00% to 8.70%. Under the Loyalty Car Loan Scheme, the SBI Car Loan and NRI Car Loan scheme provide loans at interest rates from 7.95% to 8.65% (CIC rates are applicable). Certified pre-owned car loan schemes(Loyalty Car Loan Scheme) at interest rates of 9.50% for man and 9.45% for women. The normal Certified pre-owned car loan schemes provide interest rates from 9.75% to 10.75% (CIC Based rates are applicable).
There is also a scheme called SBI Car Loan Lite where rate of interest is charged according to the customers credit score, if it is >=750 the rate of interest will be 10.45% per annum and if the credit score is from 650 to 749 the rate of interest will be 11.45%. The interest rates depend on the credit history of the customer. Thus having a good credit history will be important to get low interest rates for your car loan.