Dec 21, 2017 05:45 PM 1 Answers General
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How can i pay my car loan through net?

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    Dec 21, 2017

    Paying your car loan or any SBI loan online

    You can pay your car loan online by doing pre-payment of your EMI online at sbi website. For that you have to follow some steps if you already have not done.

    Step 1: Link your loan account with your SBI Bank account at onlinesbi website.

    We are adding loan account in your net banking account so that you can pay online through NEFT.

    If you do not have net banking enable learn how to enable net banking here:

    How to Login on SBI or Activate Internet Banking Account First Time

    Other way is that you directly go to bank and submit money in your loan account but then this method will be offline and as you have asked for online method, here is how to add beneficiary account/ loan account in your net banking account:


    Steps required for adding Loan Account to your Online Banking account

    1. Make sure you have internet banking enabled at onlinesbi.com website and the State Bank of India branch where you have the loan account also accepts the online payments (almost all SBI branches accepts online payments or NEFT transfers).

    2. Now, just like you add a third-party account online, in the same way, add your loan account as third-party beneficiary account so that you can make the NEFT payments after adding. Once the account gets added (basically it takes 4 hours if added between 8am to 8pm), you should be able to see it beneficiary accounts.

    paying car loan online home-loan-car-loan-payment-using-neft

    3. As soon as the account gets added, you can make the payments to your car loan /home loan or any loan account, it would be considered as your pre-payment.

    Step 2. Now transfer the required money in your loan account from the main account.

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    Based in above. If Ive correctly understood the idea, thn I can make repayment of my car loan.
    My loan account is linked with my SBI NetBanking.
    Need to know.
    1. How many times can I make prepayments and how much. Is there any restn on it.
    2. Prepayments shall be deducted against my principal amount or just interest.
    3. My EMI will continue to be same or it will change with Bal rehashed.
    4. Will I get any notification from bank or it will be somehow reflected.
    5. Can i, at any given time further reduce the duration of Bal payment depending on repayments

    Kindly answer. Thanks.

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