Purchase of new or used vehicles, Private or commercial vehicles.
- 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).
Rate of interest / EMI
Card Rates applicable (p.a.), Interest will be applied monthly basis on outstanding amount. EMI Starts at RS.2175* 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. And Minimum Two Guarantors required in other vehicle loans
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.
Photo, Photo ID, Residence proof, Income Proof