South Indian Bank Car Loan Interest Rates
South Indian Bank Car Loan Interest Rates
| Interest Rate | Base Rate of 9.15% to 10.10% |
| Loan Amount | For 4 wheelers, a minimum of Rs. 2,00,000 is offered. |
| Loan Tenure | Maximum of 5 years and with 100% collateral security, tenure is increased to 7 years. |
| Documentation charges | Nil |
| Prepayment Charges/Penalty | Nil |
| Base rate (As of May 2017) | 9.15% to 10.10% |
| Guarantor | |
| Margin | For new vehicles - 5%-15% and for second hand vehicles - 25% |
| Cost of vehicle | Along with Basic Cost, the cost of accessories, tax and duties, one time tax, Octroi and the comprehensive insurance premium for the first year |
| Upfront Charges | Either Rs. 5000 or 0.25% of the amount procured as the loan, whichever is the lesser amount |
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