logo

Car Loan

Zoom ahead in your life.

Features & Benefits

  • Zero Processing Fee
  • Personal Accident Policy with coverage of Rs 5 Lacs for the period of 5 years
  • 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 - Up to 90% of the Invoice Value
  • Used Vehicle - Up to 70 % of the resale value - Max up to 3 years of usage

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

Surety

  • *No Guarantor
    *(No guarantors subject to Borrowers having ownership Residential house either of their own or Family Owned)

Repayment

  • Up to 7 Years

Conditions Apply