Auto Finance


Don’t you have enough money to buy your dream car? Don’t worry, Kalyan Janata Sahakari Bank will help you get a step closer to your dream car with minimum effort.

Purpose & Eligibility

  • Purpose:
    • Acquiring new / pre-owned (re-sale) two wheeler / four wheeler vehicle purchased by individual / corporate for private use & not for any commercial use.
  • Eligibility :

      Salaried Individuals :

    • Min age of the applicant: 22 years
    • Max age of the applicant (At loan Maturity): 70 yrs or retirement age, whichever is earlier (subject to submission of proof for continuity of income)

      Non Salaried Individuals :

    • Min age of the applicant: 25 years
    • Max age of the applicant (At loan Maturity): 65 yrs or retirement age, whichever is earlier (subject to submission of proof for continuity of income)

Quantum & Tenure

  • Quantum :
    • Minimum : ₹ 1 lakh
    • Maximum :
      • For new vehicles : 100% on basic invoice cost of vehicles. (excluding RTO, registration, tax & insurance)
      • For pre-owned vehicles (not older than 3 years): 80% of purchase price. (based on stamp agreement for sale of vehicle)
  • Tenure :
    • For new vehicles : Maximum 6 Years
    • For pre-owned vehicles : Maximum 4 Years (tenure calculation will be based on valuation report & total life of car not exceeding 7 years)


  • Basic Documents :
    • In case of new customer, applicant & guarantors need to open savings / current account
    • Duly signed loan agreement
    • Details of existing on-going loan availed from banks / financial institution
    • Copy of Bank deposits / Life Insurance Policies / Other Investments (if any)
  • KYC documentation
    • Proof of identity
    • Address proof of applicant
    • 3 Passport sized photographs
  • Application Form
    • Duly filled & signed loan application form
  • Bank Statement
    • Bank statement for last one year
  • For Salaried individuals :
    • Last 3 months’ – salary slips
    • Form 16 or Income Tax Return
  • If an applicant Is a self-employed individuals :
    • Income tax returns of last 3 years, 26 AS from traces
    • Financial statements including balance sheet, profit & loss account and computation of income for last 3 years
    • Licenses / permissions from competent authorities

    • For new car, pro-forma invoice of vehicle from an authorized dealer
    • For pre-owned car, proof of ownership and proof of present value (valuation report, agreement for sale, depreciated value as per insurance policy) is to be provided
    • RTO forms (blank) as required, duly signed by borrower

ROI & Other Conditions :

  • ROI :
    • Please click here to know about latest ROI & Service Charges.

    • Applicant has to be a regular shareholder of the bank. The guarantors have to be either a regular member (shareholder) or a nominal member (in case of loan amount up to ₹ one lakh) of bank.
    • Standing Instruction (SI) Request / ECS or NACH instructions / Post Dated Cheques (PDC) to be submitted to the bank as per requirement.
    • Disbursement of the loan will be made by the bank directly to the dealer through pay order or RTGS / NEFT.
    • In case of new vehicle : Pro-forma invoice / tax invoice / quotation, stamped receipt, RC book / smart card with bank’s hypothecation charge recorded therein, onetime tax paid receipt / delivery challan, vehicle insurance policy (with bank’s name under bank clause) to be submitted to the bank within 7 days.
    • In case of pre-owned vehicle : Stamped receipt and delivery letter from the previous owner to be submitted. Registration of transfer of ownership, recording of bank’s hypothecation charge with RTO etc. Are to be arranged by the applicant/borrower
    • Formalities regarding recording bank’s charge on the vehicle by RTO is / are responsibility of borrower & charges thereof to be borne by him.
    • Collateral securities, if stipulated, to be submitted before disbursement. In case of assignment of LIC policies, original policies to be deposited and assignment formalities to be completed before disbursement.
    • Inspection of the vehicle will be carried out by bank officials within 3 days from the date of delivery. Applicant has to make necessary arrangements for this.
    • Registration of vehicle within bank’s jurisdiction.
    • Before disbursement, applicant has to provide margin money and necessary amount to meet all the expenses (as mentioned above& as per service charges). Adequate amount for the purpose is to be deposited in the bank account in advance.