Term Loans are sanctioned by the State Bank of Hyderabad to buy passenger cars, Multi Utility Vehicles (MUVs) and SUVs not more than five years old.

Loan Amount:
Salaried Persons:
48 times the Net Monthly Income (NMI)

Self Employed:
4 times the Net Annual Income (NAI)

Margin :
15% of the cost of the vehicle

Eligibility :
Age :
21-65 years of age.

Permanent employee of state/ central government, public sector undertaking or private company .

Net Annual Income
`250,000/- and above.

Takeover of Loans:

Takeover of car loans may be considered selectively where:

Vehicle is not more than 2 years old

It is a single ownership vehicle

No insurance claim has been availed

All repayments have been made as per terms of sanction of the original financier.

Loan should be repaid within 7 years from the date of the original purchase of the vehicle