Vehicle Loan

Finance your car or two-wheeler with competitive rates.

Title	Norms
Purpose	Purchase of New Car And Two Wheeler.
Eligibility	Salaried person's, with minimum one year confirmed service. Other than salaried with regular source of income.
Limit of loan	Maximum Rs.1 Crore for 4 Wheeler. Maximum Rs.2 lakh for 2 Wheeler.
Basis of Advance	Salaried: Max 40 times of Avg Net Monthly Salary. Businessmen: Max 5 times of Net Cash Accruals. 20% of Ex-Showroom cost for Two Wheeler Loan & 10% of Ex-Showroom cost for Four Wheeler Loan
Repayment Period	Salaried & Businessmen: 3 years to 5 years.
Rate of Interest (Reducing)	4 Wheeler 9.90% 2 Wheeler 9.90%
Processing fees	1% of the Loan amount + GST
Shareholding	1% of the Loan amount for Two Wheeler & 2% of the Loan amount for Four Wheeler
Security	Hypothecation of Vehicle.
Documentation	Duly filled prescribed application form Photo Identity & Residence Proof of the Applicant Income proof a) or b) as applicable Salaried person : salary slips for last 3 months and bank statement for last 3 month or ITR/Form 16 of the latest one year Businessman/Professional/self employed: last 3 years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months. Proforma Invoice of the Authorized dealer.