No car loan if annual income less than Rs. 6 lakh, says - TopicsExpress

No car loan if annual income less than Rs. 6 lakh, says SBI: Individuals with annual income of less than Rs. 6 lakh will not get a car loan from State Bank of India(SBI) as the bank has tightened eligibility conditions for its four-wheeler loan scheme with a view to minimising possible defaults.The eligibility limit for loan issuance to salaried individuals for car purchase has been raised from Rs. 2.5 lakh per annum to Rs. 6 lakh per annum, as per a recent circular by the bank. For SBI account holders, the limit has been raised to Rs. 4.5 lakh per annum.

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