Turn the Key to Your Dream Car with Our Private Car Loan!
Flexible EMIs, Quick Approvals, and a Smooth Ride Ahead!
- (Petrol /Diesel / Electrical / CNG)
- The applicant must be a member of the bank and have an active banking relationship with the bank.
- Minimum gross salary: ₹25,000/- (for salaried applicants).
- Total deductions, including the proposed EMI, must not exceed 65% of gross salary.
- Additional income sources (e.g., spouse or family income) can be considered with proper documentation.
ELIGIBLE AMOUNT FOR LOAN
- In case of new vehicle - Loan amount covers entire cost of the vehicle excluding Insurance and Extended Warranty in case of new vehicle.
- In case of used vehicle –Agreement (Purchase) value/Market value/Insurance Declared Value, whichever is lower
PERIOD OF LOAN
- New Car - Maximum 84 months
- Used Car – Maximum 84 months (minus) age of car (in months)
MARGIN
- New Car - 10% margin
- Used Car - Up to 1 year Old – 30% margin.
- More than 1 year Old - 50% margin.
- No finance for vehicle more than 5 years old.
GUARANTOR
- No guarantor up to loan amount Rs.10.00 Lakhs
- At least One Guarantor for loans above Rs.10.00 Lakhs
RATE OF INTEREST
- Interest Rate Private Car Loan : 8.50%* P.A.
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