For non-salaried category

• A maximum loan amount of 2.5 times the net annual cash accruals can be sanctioned.



For salaried category

• 25 times of the net monthly salary.
  (For the salaried category, total deductions including EMI for Vehicle loan under consideration should not exceed 60 % of the Gross Monthly Income. Take Home Salary after this Loan EMI should be Rs.10,000/-)


• Net Annual Income Rs.100,000/- and above


• In case the applicant is married, spouse will be co-applicant.


• In case the applicant is unmarried, parents will be taken as co-applicant

NOTE: ** The above rates are applicable only for our exisiting borrowers having limits over Rs.5 Lakhs and Current Account / Saving Account Holders for atleast 1 year, with satisfactory conduct.

• PAN Card (mandatory)


• Aadhar Card (mandatory)


• Identity Proof – Any one (e.g. Voter ID / Driving License / Passport)


• Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)


• Valid Driving License.


• 5 passport size photographs of Applicant & Co-applicant & 2 passport size photographs of Guarantor.


• Any other valid Photo ID card issued by central or state government

• Latest salary-slip for 3 months showing all deductions


• I.T. Returns/Form 16: 3 years for salaried employees and 3 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable to be submitted.


• Bank Statement of Salary Account for the last 6 months


• Statement of Bank account for last 12 months.

Security

• Two guarantor having regular source of income filing regular income tax returns.

Other Terms & Condition

• Prepayment charges of 2% will be levied on any partial or full prepayment in the loan amount, over and above the normal EMI payable.



Processing Fees

Conditions	Rates
Upto 2.00 Lacs	1,000/- (inclusive GST)
Above Rs.2.00 lacs and upto Rs.2.5 Lacs	1,500/-(inclusive GST)
Upto 5.00 Lacs	1,500/-(inclusive GST)
Above 5.00 Lacs	0.50% + GST

Inspection Charges

Conditions	Rates
Upto 5.00 Lacs	1,000.00
Above 5 Lacs to 25 Lacs	2,000.00
Above 25 Lacs to 1 Crore	3000.00

• Minimum Loan Amount for New / Used Vehicle would be Rs.1.00 Lac

Disclaimer: - The information provided is subject to change & terms and conditions as also ROI will be applicable as per sanction terms only.