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Personal Vehicle Loan - Adding wheels to your dream

Purpose Eligibility Limit & Margin Security Repayment Interest Rates & Charges

Purpose

  • For purchase of all types of Cars, Jeeps, Small Vans, two wheelers, three 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
Apply Now

Eligibility

  • 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
Apply Now

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.
Apply Now

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.
Apply Now

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
Apply Now

Interest Rates & Charges

Apply Now
  • For purchase of all types of Cars, Jeeps, Small Vans, two wheelers, three 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
Apply Now
  • 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
Apply Now

    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.
Apply Now

    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.
Apply Now

    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
Apply Now
Apply Now

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