NRI Vehicle Loan

We provide your dream vehicle

Purpose

  • For purchase of all types of Cars, Jeeps, Small Vans, two wheelers, etc.,
  • Both brand new and pre-owned vehicles except two wheelers.
  • In the case of pre-owned vehicles, the age of the vehicles should not be more than 2 years.
  • Pre-owned Two Wheelers are not eligible under the scheme

Eligibility

  • Individuals including NRIs/ Firms/ Companies, who are having sufficient income to meet the repayment commitments
  • Income of the spouse or children may also be taken into account for calculating the eligible amount of loan

Limit & Margin

    New Vehicles

  • 90% of the cost of vehicle.
  • Pre - owned Vehicles

  • 70% of purchase consideration /insured value /value assessed by Automobile Engineer/ Insurance Surveyor, whichever is lower.
  • The vehicle considered for finance should be lien-free.

Security

    Upto 5 lakhs

  • Hypothecation of Vehicle
  • Guarantee / Co obligation of a credit worthy person
  • Above 5 lakhs

  • Hypothecation of Vehicle
  • Equitable Mortgage of landed property of value not less than 150% of loan amount / Equivalent secuity of Approved securities.

Repayment

    Brand New Vehicle

  • Two Wheeler : Within 60 months in EMI
  • Four Wheeler : Within 84 months in EMI
  • Pre-owned Vehicle

  • To be repaid within a maximum period of 60 months or up to the appraised economic life of the vehicle as per the valuation cum road worthiness certificate, whichever is earlier

Interest Rates & Charges

  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.
  • For purchase of all types of Cars, Jeeps, Small Vans, two wheelers, three Wheeler etc.
  • Both brand new and pre-owned vehicles except two wheelers.
  • In the case of pre-owned vehicles, the age of the vehicles should not be more than 2 years.
  • Pre-owned Two Wheelers are not eligible under the scheme
  • Individuals including NRIs/ Firms/ Companies, who are having sufficient income to meet the repayment commitments
  • Income of the spouse or children may also can be taken into account for calculating the eligible amount of loan

    New Vehicles

  • 90% of the cost of vehicle.
  • Pre - owned Vehicles

  • 70% of purchase consideration /insured value /value assessed by Automobile Engineer/ Insurance Surveyor, whichever is lower.
  • The vehicle considered for finance should be lien-free.

    Upto 5 lakhs

  • Hypothecation of Vehicle
  • Guarantee / Co obligation of a credit worthy person
  • Above 5 lakhs

  • Hypothecation of Vehicle
  • Equitable Mortgage of landed property of value not less than 150% of loan amount / Equivalent secuity of Approved securities.

    Brand New Vehicle

  • Two Wheeler : Within 60 months in EMI
  • Four Wheeler : Within 84 months in EMI
  • Pre-owned Vehicle

  • To be repaid within a maximum period of 60 months or up to the appraised economic life of the vehicle as per the valuation cum road worthiness certificate, whichever is earlier
  • Please visit Loan interest rates page for details.
  • Please visit Service charges page for more details.

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