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Car Loan

Zoom ahead in your life.

Features & Benefits

  • Interest charged on daily reducing basis
  • No pre-payment charges for repayment through own source
  • Attractive interest rate
  • Simple documentation
  • Easy repayment options - ECS/ Post-dated cheque / Standing Instruction
  • Speedy loan approval
  • Offers Insurance cover for all assets at attractive premium

Purpose

  • Purchase of new or second-hand vehicle

Eligibility

  • Salaried / Professional / Businessmen

Quantum of loan

  • New Vehicle : Maximum Rs. 50 Lakhs (90% of the Invoice Value inclusive of Insurance premium and accessories)
  • 2nd Hand Vehicle : Maximum Rs. 10 Lakhs (70% of purchase / sale agreement value or amount of valuation report, whichever is lower)

Rate of Interest : 7.50 % p.a Onwards

Documentation : Refer Basic Documents - Retail Loan

In addition to the basic documents

  • Proforma Invoice of an authorised dealer
  • Proof of margin money

Security

  • Hypothecation of vehicle to be financed

Repayment

  • Up to 7 Years

Conditions Apply

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