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 2 Wheeler - 90% 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 existing borrowers having CBIL score 700 and above with no DPD.

  • KYC documents

  • Latest salary-slip for 6 months showing all deductions

  • 3 years Form 16 / Dully filed ITR’s

  • Bank statement for the last 1 year

  • 5 passport size photographs

  • On road quotation from authorised dealer

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.

Frequently Asked Questions (FAQs)

A vehicle loan is a type of loan used to finance the purchase of a new two- wheeler or four-wheeler. At Greater Bank, it includes on-road costs such as vehicle price, registration charges, insurance, and one-time road tax. The loan is repaid through EMIs over a fixed term.

No, Greater Bank funds up to 80% of the on-road price for four wheeler and 90% for 2 wheeler. The remaining 10-20% must be paid as a down payment.

You’ll need to pay at least 10-20% of the on-road cost from your own funds.

  • PAN Card and Aadhaar Card (mandatory)
  • Identity Proof: Voter ID / Passport / Driving License
  • Address Proof: Utility bill, lease deed, sale agreement, or bank statement
  • Photographs: 5 (applicant & co-applicant), 2 (guarantor)
  • Income Proof:
    • Salaried: 6 months’ salary slips, 3 years ITR/Form 16, 1 Year bank statement
    • Self-employed/Professionals: 3 years ITR, 12 months business account statement

Loan tenure options vary case by case, depending on income, vehicle type, and applicant profile. Terms are discussed at the time of sanction.

Yes, one guarantor of sound financial standing is required for all vehicle loans.

Make sure you:

  • Maintain a good CIBIL score (650+)
  • Have all documents ready (especially income proof and valid license)
  • Apply with your spouse as co-applicant (if married)
  • Choose a vehicle from an authorised dealer

You can track your application by contacting the Greater Bank branch where you applied or calling the customer care helpline. Status updates are also shared via SMS or email.

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