State Bank of India or Simply known as SBI is the largest bank in India. This bank has almost every kind of financial service to offer to the customers. The car loan is one of those. With this article, I will tell you how you can check Pre Qualified Car Loan Eligibility in SBI Online.
What is Pre Qualified Car Loan Eligibility?
Pre Qualified Car Loan Eligibility is an option available to the customers in the SBI Online. (internet banking) This option tells the customer if he or she is eligible for a car loan from the State Bank of India.
If yes the details of the same will be displayed to the customer. And in case if not then the customer will receive an error message. This message says “Dear Customer, You are not eligible for Car Loan Facility”.
Does Being Qualified Assure the Approval of Loan?
No, if you see that you are qualified for the car loan facility in SBI Online. Then it does not mean that the bank will approve your loan for sure.
Once you apply for the loan the bank will perform its own assessment based on your income, credit score, etc. If you pass all the assessments then your loan will be approved by the bank.
What is the Requirement to Check?
You will need access to your internet banking account. That is your username and the login password.
If you don’t have it or have not activated internet banking yet. Then visit the official website and use the “New User” option to activate it.
Steps to Check Pre Qualified Car Loan Eligibility in SBI Online
Time needed: 5 minutes
You can check your pre-qualified car loan eligibility in SBI Online in the “Request & Enquiries” section.
- Visit the Official Website of the State Bank of India.
The first thing you have to do is order to check your pre qualified car loan eligibility is visiting the official website of the bank.
- Login to your Internet Banking Account
Enter your username, login password, and login into your account.
- Click on Request and Enquiries.
You have to select “Request and Enquiries” by clicking on it. You can find this option in the top menu bar of the internet banking interface.
- Click on “Pre Qualified Car Loan Eligibility” to Check.
Now you have to click on the “Pre Qualified Car Loan Eligibility” option to check if you are eligible for the car loan facility of the State Bank of India.
What to Do if Not Eligible?
If you get an error message saying you are not eligible for the car loan. There is no need to lose your heart. You can still get a loan from the bank.
Take your income proof and IT returns documents and visit your SBI home branch. You speak with the bank officials there and can apply for a loan there.
If everything works well then you might get a loan from the bank. I wish you all the best for your new car.