For Individuals |
Loan can be availed by individuals for personal use :
- Purchase of Brand New 4-Wheeler including Jeep, Vans-Both.
- Purchase of Pre-Owned 4-Wheeler, not older than 3 years.
- Purchase of New Electrical 4-Wheeler.
|
For Corporates |
Loan can also be availed by Companies / Firms for professional use i.e. purchase of vehicle for usage by their Directors / employees. |
Quantum |
- No upper Limit.
- For Pre owned cars max Rs.50 Lakh (subject to required margin norms).
|
Processing charges |
- 0.25% on the loan amount with a minimum of Rs.1000/- +GST and maximum of Rs.5000/-+GST
- Bank is celebrating Retail Loan Festival and waiver of 50% processing charges from 01.04.2024 to 30.04.2024.
|
Repayment Tenure |
Maximum 84 EMIs |
Margin |
- Up to Rs.25.00 lakh - 15%
- Above Rs.25.00 lakh - 25%
|
Used Cars |
We also finance used cars (not older than 3 years) at the same low interest rates. We finance 60% of the agreed price or 60% of the value of the car or 60% of the original value of the vehicle, as assessed by an automobile engineer or Rs. 50.00 Lakh whichever is lower. |