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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.
   

  • Avail up to 85% on On road cost or 95% of the Ex showroom cost
  • Tenor – Ranging from 12 to 60 months
  • Quick and speedy processing.
  • Repayment through convenient EMI’s
  • Financial based product.
  • Convenient and Attractive Rate of Interests
  • Minimum / hassle free documentation

 
Salaried Individuals:

  • Minimum age of Applicant - 21 years
  • Maximum age of Applicant at loan maturity - 60 years
  • Minimum Annual Salary - Rs. 1,20,000/-
  • Minimum Employment Stability - One year in current employment and total experience of 2 years

Self-Employed / Professionals:

  • Minimum age of Applicant - 21 years
  • Maximum age of Applicant at loan maturity - 65 years
  • Minimum Annual Income - Rs. 1,20,000/-
  • Minimum Business Continuity - 3 years in same business

Partnership Firms:

  • Minimum Income – Rs. 1,20,000/-
  • Minimum Business Continuity - 3 years in same business

Private Limited Company:

  • Minimum Income – Rs. 1, 20,000/-
  • Minimum Business Continuity - 3 years in same business

Public Limited Company:

  • Minimum Income – Rs. 1, 20,000/-
  • Minimum Business Continuity - 3 years in same business
 
95% of the Ex showroom cost (or) 85% on On road cost ( Ex showroom cost+ Insurance+ Registration and Road tax)
 
 
Sr No Charges AUTO - NEW CAR
1 Processing fees 1% of the loan amount.
2 Non refundable fees NA
3 Part Prepayment Charges NA
4 Foreclosure charges 2% +ST of Principal Outstanding
5 Cheque Bounce Charges Rs 500/- + ST
6 Late Payment Charges 3% per month
7 **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
8 NOC issuance charges - Nil for 1st Issuance Nil for 1st issuance. Rs 500/- + ST
 
 
 
 

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.
   

  • Avail up to 60% of the value of the vehicle.
  • Tenor – Ranging from 12 to 48.
  • Quick and speedy processing.
  • Repayment through convenient EMI’s
  • Financial based product
  • Convenient and Attractive Rate of Interests
  • Minimum / hassle free documentation

 
Salaried Individuals:

  • Minimum age of Applicant - 21 years
  • Maximum age of Applicant at loan maturity - 60 years
  • Minimum Annual Salary - Rs. 1,20,000/-
  • Minimum Employment Stability - One year in current employment and total experience of 2 years

Self-Employed / Professionals:

  • Minimum age of Applicant - 21 years
  • Maximum age of Applicant at loan maturity - 65 years
  • Minimum Annual Income - Rs. 1,20,000/-
  • Minimum Business Continuity - 3 years in same business

Partnership Firms:

  • Minimum Income – Rs. 1,20,000/-
  • Minimum Business Continuity - 3 years in same business

Private Limited Company:

  • Minimum Income – Rs. 1, 20,000/-
  • Minimum Business Continuity - 3 years in same business

Public Limited Company:

  • Minimum Income – Rs. 1, 20,000/-
  • Minimum Business Continuity - 3 years in same business
 
60% on value of the vehicle as certified by the approved valuer of the Bank
 
 
Sr No Charges Pre Owned car
1 Processing fees

1% of the loan amount.

2 Non refundable fees NA
3 Part Prepayment Charges NA
4 Foreclosure charges 2% +ST of Principal Outstanding
5 Cheque Bounce Charges Rs 500/- + ST
6 Late Payment Charges 3% per month
7 **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
8 NOC issuance charges - Nil for 1st Issuance Nil for 1st issuance.Rs 500/- + ST
 
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