SBI Car Loan Prepayment Calculator
Simulate part prepayments, calculate interest savings, tenure reduction, and foreclosure settlement for State Bank of India (SBI) car loans.
SBI Loan Parameters
SBI Auto Scheme💰 SBI Prepayment Options
📱 How to pay SBI Car Loan Prepayment via YONO:
- Log in to YONO SBI > Select Loans.
- Click your Car Loan Account > Tap Pay Advance.
- Enter the part-payment amount & choose Reduce Tenure.
Amortization Schedule
Interactive breakdown of balance, interest, and prepayment impact
| Period | EMI Paid | Principal Paid | Extra Prepayment | Interest Paid | Total Payment | Remaining Balance |
|---|
Frequently Asked Questions
Are there any prepayment or foreclosure charges on SBI Car Loans?
SBI offers zero (nil) prepayment charges on car loans after completion of 24 months (2 years). For loans closed within the first 2 years, SBI charges a nominal fee (up to 3% + GST) or 0% under special festive schemes and floating-rate loans.
How to make part prepayment for SBI Car Loan online via YONO SBI?
You can make an online prepayment easily:
- Open and log in to the YONO SBI App or SBI NetBanking.
- Navigate to Loans > My Loans > Car Loan Account.
- Click on 'Pay Advance / Part Payment' or transfer funds from your SBI Savings account directly to your Car Loan account number.
- Select whether you want to Reduce Loan Tenure or Reduce Monthly EMI.
Can I make multiple part payments in SBI Car Loan?
Yes, SBI allows borrowers to make part prepayments multiple times throughout the loan tenure without restrictions on minimum deposit amount.
How long does it take for SBI to issue NOC after foreclosure?
Once the full outstanding principal and any accrued interest are settled, SBI issues the NOC (No Objection Certificate) and Form 35 within 7 to 14 working days to remove hypothecation from your vehicle RC.