Dhanlaxmi Bank

New Car Loans

Car Loans is the ideal way to finance your new set of wheels. Now you can acquire your favourite small car, sedan or luxury vehicle with flexible repayment options.

Features

Eligibility

Funding

Fees & Charges

More Info

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LTV: 85% of the cost of the vehicle*
Tenor - Ranging from 12 to 60 months (depending on model)
Quick and speedy processing.
Repayment through convenient EMI’s
Product Variants - To match your requirements with our existing and convenient plans/offerings:

Financial based
Surrogate basis existing loan repayment track and
Banking Product

Convenient and Attractive Rate of Interests
Minimum / hassle free documentation

* Offer depending on model and tenor

Salaried Individuals:

Minimum age of Applicant - 21 years
Maximum age of Applicant at loan maturity - 60 years
Minimum Annual Salary - Rs. 1,50,000/-
Minimum Employment Stability - One year in current employment and total experience of 2 years
Contractibility - Landline at office is mandatory. Either Postpaid mobile or landline at residence

Self-Employed / Professionals:

Minimum age of Applicant - 21 years
Maximum age of Applicant at loan maturity - 65 years
Minimum Annual Income - Rs. 1,50,000/-
Minimum Business Continuity - 2 years in same business
Contractibility - One landline mandatory at either residence or office

Partnership Firms:

Minimum Income – Rs. 1,50,000/-
Contractibility – One landline mandatory at either residence or office

Private Limited Company:

Minimum Income – Rs. 1, 50,000/-
Contractibility – One landline mandatory at either residence or office

Public Limited Company:

Minimum Income – Rs. 1, 50,000/-
Contractibility – One landline mandatory at either residence or office

Please click here for documents required
Please click here for application form
Please click here for Most Important Terms and Conditions

Car Segment	Models	Loan Amount% *
A1 Mini	800	85 - 90
A2 Compact	Santro,Alto,WagonR, Swift, Ritz, Estilo, Beat, A-Star, Spark, I 10, Indica	85 - 90
A3 Mid size	Ford Figo	85 - 90
A4 Executive	Octavia, Corolla, Civic, Elantra, Optra Magnum	70 - 85
A5 Premium	Accord, Camry, Sonata, Superb, Laura, Passat, Teana,	70 - 85
A6 Premium	Mercedes Benz, Audi, BMW, Touareq, Porsche, S80	70 - 85
MUV	Omni, Innova, Scorpio, Tavera, Bolero, Gypsy, Versa, SumoVicta, Safari	70 - 85
SUV	CR-V, Endeavour, Pajero, Montero, X-Trail, Tuscon, SRV, Captive, Terracan, Vitara, Prado	70 - 85

* Loan Amount on Exshowroom price of the car

Sr No	Charges	AUTO - NEW CAR
1	Processing fees	The processing fees would range from Rs. 3,000 to Rs. 6,500/- depending on the loan amount.
2	Non refundable fees	NA
3	Part Prepayment Charges	NA
4	Foreclosure charges	5% for 1st year,3% for 2nd year & thereon
5	Cheque Bounce Charges	Rs 500/- + ST
6	Late Payment Charges	3% per month
7	Cheque swap charges	Rs 500/- + ST
8	Loan Reschedulement charges	Rs 5000/- +ST plus interest for the month plus late payment penalty charges plus other charges if applicable
9	Loan statement charges - Nil for 1 statement every half yearly	Rs 500/- + ST
10	NOC issuance charges - Nil for 1st ISSUANCE	Nil for 1st issuance.Rs 500/- + ST
11	Document retrieval charges (per advice)	Rs 500/- + ST
12	EMI cycle change	Rs 500/- + ST
13	Foreclosure statement charges	Rs 200/- + ST
14	Switch charges (Floating to fixed and vice versa only if the product exists at the time of request and permitted by the bank)	3% + ST of loan outstanding
15	Loan Cancellation charges	Rs. 3000 + Service Tax plus interest charges from disbursement date till cancellation request
16	Customer Credit Information Report (Credit Bureau) (Will be provided only where the customer has submitted an application for loan processing.)	Individual customers - Rs 200, Non Individual Customers - Rs 750

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Used Car Loans

You can now take a car loan for not only new vehicles but also for pre-owned vehicles.The quick and speedy processing of the loan will ensure you are in possession of a car in no time.