Question:

Do I have the option of choosing a fixed or floating rate for the State Bank of India car loan?

by Guest8693  |  12 years, 9 month(s) ago

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I want to know, Do I have the option of choosing a fixed or floating rate for the State Bank of India car loan?

 Tags: bank, car, Choosing, FIXED, FLOATING, India, Loan, option, Rate

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  1. Guest4907
    You have the option to avail the loan with either a fixed interest rate or a floating interest rate. In the case of a fixed rate loan, the interest rate on the loan will remain fixed through the entire tenure of the loan, whereas in the case of a floating rate loan, the interest rate could decline or rise in line with the changes in the State Bank Advance Rate (SBAR). Fixed Rate option is available only for Car Loans up to Rs. 5 lac.

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