Purchase of new or used vehicles, Private or commercial vehicles.
Loan Amount :
75% of cost of vehicle in case of new vehicles.
225% of cost of vehicle in case of used or old vehicles ( Age of Vehicle should be not more than 5 years).
Calculate Your EMI
Rate Of Interest / EMI :
Card Rates applicable (p.a.), Interest will be applied monthly basis on outstanding amount. EMI Starts at Rs. 2125* per month & it is up to RS. 3400* per month. Depending on your tenure.
Maximum period for repayment is 60 months for new Vehicles.
Maximum period for repayment is 36 months for a used or old vehicle.
Bank will create the first charge on assets created out of a loan. "In Addition to the above Security; Bank will ask for collateral security of 100% of Sanction Amount. (In case of four-wheeler)."
Maximum One Guarantor will be required forTwo Wheeler Loan upto Rs.1.00 lakh.
Minimum Two Guarantors required in other vehicle loans.
Applicant - Photo, Photo ID, Residence proof, Income Proof such as Last 3 months Salary slip or Last Three years Balance Sheet and Tax Returns, Quotation of a vehicle in case of new vehicle, Agreement to sale in case old vehicle, etc.
Guarantor - Photo, Photo ID, Residence proof, Income Proof