Eligibility

• Individual/s including NRIs/Firms/Companies, who are having sufficient income to meet the repayment commitments

Limit & Margin

• 75-85% of the invoice value.
• Up to Rs.15 Lakh-15%, Above Rs. 15 Lakh-25%.

Security

Up to Rs.10 Lakhs

• Hypothecation of Vehicle to be purchased
• Guarantee of Credit worthy person.

Guarantee is waived if the party is ready for provide: EM of landed property valued at least 150% of the loan amount OR linking of Loan to any of the Existing EM OR assignment of LIC policy with surrender value, NSC/Term deposit of our bank with 100% coverage OR giving ECS mandate/Standing instruction in our favour for the payment of EMI of the loan (Only applicable to borrowers in all categories submitting ITR/Form 16 for the past 2 years) OR he/she is a Salaried employee of any institution maintaining Salary Account with us.

Above Rs. 10 lakhs

• Hypothecation of Vehicle to be purchased.
• EM of landed property valued at least 150% of the loan amount, OR assignment of LIC policy with surrender value, NSC/Term deposit of our bank with 100% coverage OR term deposit of minimum 50% of the loan amount with one credit worthy guarantee.

Repayment

• Within 84 months in EMI

Interest Rates & Charges

• For Loan interest rates Click here.
• Please visit Service charges Click here