Vehicle Loan

  • A new car, jeep, Multi Utility Vehicle (MUV) (any make or model)

  • A used car / jeep / MUV (not more than 3 years old). (Any make or model)

  • 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

    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

  • Share membership : 2.5% of loan amount.

    • Conditions Rates

    New Vehicles(all four wheeler private vehicles)

    		 10.00%

    Commercial Vehicles(four wheeler passenger vehicles T Permit)

    		 12.00%

    other commercial vehicles(excluding 3 wheelers)

    		13.50%

    Used Vehicles

    		14.00%

    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.

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