State Bank of Travancore (SBT) was originally established as Travancore Bank Ltd. in 1945 sponsored by the erstwhile Princely State of Travancore.Under a special statute of the Indian Parliament (SBI subsidiary Banks Act 1959) it has been made an Associate of the State Bank of India and a member of the State Bank Group, the largest banking group in India. Regd. office/Head Office at: Poojapura, Trivandrum 695 012, Kerala state, India

Car Loan 

For NRIs & Residents

Persons Eligible

  • Salaried and other regular income earners with a minimum of 2 years standing/ experience in their line of activity
  • Spouse of NRIs, based on the monthly income of the NRI.
  • Minimum Net Annual Income Rs. 2,50,000/-

Amount of Loan

Eligible Amount Maximum

New Cars/Jeeps 48 times net monthly income

Second hand cars 30 times net monthly income

(vehicles upto 2 years old) Rs.4 lakhs

(vehicles 2 to 5 years old) Rs. 3 lakhs

* Margin Take over of Car loans (from other banks) can be considered.

**Reimbursement of expenses incurred for purchase of new cars by way of  Hypothecation is also considered subject to conditions.


Up to Rs.20 lakhs – 15% of the road cost of the new car to be purchased (invoice cost+life tax+Insurance)

Above Rs.20 lakhs – not less than 25%

25% for second hand cars upto 2 years old

40% for second hand cars above 2 years upto 5 years old


New Cars 84 equated monthly installments

Second hand cars 60 equated monthly installments


Primary : Hypothecation of the vehicle purchased out of bank finance.

Collateral (for loans above Rs. 50000/-) :

  • Personal guarantee of one or two persons of sufficient worth.

Processing Charges  0.50% of the loan amount subject to a minimum of Rs.500/- and maximum Rs.10000/-

Insurance Comprehensive Insurance is compulsory for all loans for purchase of vehicle.

Papers to be submitted to the Bank

  • Application form (in duplicate)
  • Passport size photos (2 nos)
  • Proof of income
  • A proforma invoice of the vehicle proposed to be purchased. Documents required for used cars, please contact nearest branch
  • Details of guarantors

    a. In the case of salaried persons :

  1. Salary Certificate showing deductions
  2. Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available.

    b. In the case of self employed/professional/businessmen :

  • Statement of computation of taxable income
Up to 7Years0.75% above Base rate i.e 11%

For overdraft Car loan accounts (Car loan OD) a differential rate of 0.50 % should be maintained over and above the above mentioned rates.

Two Wheeler Loan 

For NRIs & Residents

Persons Eligible

  • Salaried employees/pensioners, who are maintaining salary/pension accounts with us where recovery of instalment at source is possible

Amount of Loan

Maximum Rs. 50,000 paid directly to the seller


72 equated monthly installments


  • Hypothecation of the vehicle purchased out of bank finance.
  • Personal guarantee of one person of sufficient worth


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