SBI Auto Loan: India’s first Green Car Loan - Lower interest rate, longest term, processing fee waived | Check details

India's largest lender, State Bank of India (SBI) is offering India’s first Green Car Loan. In a tweet, SBI said, "Charging India’s Green Future! SBI is proud to provide India’s first Green Car Loan to encourage people to reduce their carbon footprint and opt for electric vehicles." Through Green Car Loan, SBI is offering lower interest rate and longest loan term. Also, SBI says processing fee waived*

Charging India’s Green Future! SBI is proud to provide India’s first Green Car Loan to encourage people to reduce their carbon footprint and opt for electric vehicles. To know more, visit https://t.co/YT0bmiZmF9#SBI #GreenCarLoan #AutoLoan #ElectricVehicle #Sustainability pic.twitter.com/Ll5cUSueAV

— State Bank of India (@TheOfficialSBI) January 30, 2020

SBI Green Car Loan: Here are key things to know:-

-20 bps lesser interest rates than the existing car loan scheme for buying electric vehicles (EVs)

-Processing fee waiver for the first six months of the launch 

- Longest loan term of upto eight years

- EMI/lac lower at Rs.1468 for 96 months against Rs.1622 for 84 months (maximum tenor as per the existing scheme

State Bank of India (SBI), the largest commercial bank in terms of assets, deposits, branches, customers and employees, is also the largest mortgage lender in the country. 

The Bank has the largest network of 22,000 branches in India and an ATM / CDM network of over 58,000. The number of customers using internet banking facility are close to 5.73 crore and mobile banking services stand at 1.32 crore. Downloads for YONO - an integrated digital and lifestyle platform by SBI - are over 1.8 Crore, with more than 10 lakh logins per day. On social media platforms, SBI has the highest number of followers on Facebook, YouTube, LinkedIn and Pinterest. The bank tops the list of followers on Facebook and YouTube across all banks worldwide.