Car Loan


Purpose For acquiring Own Vehicle (Four wheeler) – New or Old – *for personal / Partners / Director’s / Trustee’s use, & not for any Commercial use.
[Undertaking to be furnished]
Eligibility Individual/s, Salaried employees, Businessmen, Self-employed, Professionals having regular source of income.
*Firm (Proprietary/Partnership), Pvt. / Public Ltd. Co. / Reg. Trust.
Maximum Loan Amount Minimum Rs.1,00,000/-
New Vehicles: 100% on Basic Invoice Cost of Vehicles (excluding RTO, registration, tax & insurance)
Pre-owned Vehicles (not older than 3 years):
80% of valuation or Agreement value whichever is less.
Margin New Vehicles:
NIL (RTO, Registration, Tax & Insurance to be borne by Applicant)
Pre-owned Vehicles:
@ 20% of valuation or Agreement value whichever is less.
Repayment Period New Vehicles: Maximum 5 years.
In case of Loan amount above Rs.10.00 lakhs: 6 Years.
Pre-owned Vehicles: Maximum 3years.
Rate of Interest Four Wheeler 9.9% For Two Wheeler 13.10%
Security Hypothecation of the Vehicle financed.
Guarantators One Guarantor having sufficient means & income acceptable to Bank.
Collaterals NOT MANDATORY
Processing Charge @ 0.40% of limit sanctioned
Subscription of Bank's Share @ 2.50% of limit sanctioned
Pre-payment Charges NO PREPAYMENT CHARGES

Terms & Conditions Apply.
Visit nearest branch for more details.


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