Vehicle Loan

  • Purchase of New Vehicle from Authorised Dealer.

  • Finance will include vehicle registration charges, insurance, one-time road tax.

  • Simplified and quick documentation

  • Attractive interest rates

  • Hassle-free loan sanction and disbursal procedure

  • After deducting all monthly payouts including the proposed loan EMI to be 30% of the monthly Income / Net monthly Salary subject to Rs. 10000/- p.m.In case the applicant is married, spouse will be co-applicant.

  • CIBIL Score 650 & Above

  • Loan Amount For 4 Wheeler - 80% of On Road Price (Cost+Reg+Ins+OTT)

  • Loan Amount For 4 Wheeler - 80% of On Road Price (Cost+Reg+Ins+OTT)

Conditions Rates

Four Wheeler for Personal Use

 9.75%

Four Wheeler for Personal Use (Existing Customer)

 9.00%

Four Wheeler for Commercial Use

10.75%

Two Wheeler

11.20%

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.

  • 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 for the last 6 months for Salary income.

  • Statement of Bank account for last 12 months for Business Income.

Security

  • One guarantor of sound means.

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.

    • Charges

    Processing Fees

    		 1% on Loan amount + GST (can be debited to loan amount)

    Inspection Charges

    		500/-

    Membership Charges

    		1000/-

    Entrance Fee

    		100/- per applicant/ guarantor

    Documentation / Franking Charges

    		Actual basis

    Vehicle Insurance Charges

    		Comprehensive Insurance of Vehicle to be purchased with adequate Clause of hypothecation in name of our bank duly incorporated

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

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