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Private car loan :

In the past, owning a car or two-wheeler was matter of prestige and symbol of ones standard of living. Due to economic development and availability of variety of vehicles in the market, it has become a way of life. It leads to comfort of life and helps a person in his profession and vocation. It increases ones efficiency and income generation capacity. Realising this need of the person, the Bank has designed a loan scheme called “Car Loan Scheme"

Purpose

To purchase a four wheeler

Loan Amount

100%*

Period of Loan

  1. New Vehicle - Maximum 7 years
  2. Second Hand Vehicle:
Age of the Vehicle Max Rep. period
upto 1 year old 72 months
upto 2 years old 60 months
upto 3 years old 48 months
upto 4 years old 36 months
 

Rate Of Interest

Please Contact Your Nearest Branch.

 

Margin

  1. NIL
  2. Second Hand Vehicle

Make

Upto 2 Years Old

Above 2 & upto 4 Years

Rolls Royce, BMW & Mercedez & Audi

25 %

50 %

Maruti and Hyundai

25 %

50 %

All Other Make Cars like Scorpio, Mahindra XUV, Xylo, Ecosport, Duster, Nissan Sunny

 

25 %

50 %

 

Security

Hypothecation of the vehicle to be purchased.

Guarantee

1.    Spouse / Parent if earning then external surety is not required

OR

2.    If Spouse / Parent is not earning then sureties as follows :

1) Spouse / Parent,

2) One external surety


*Conditions Apply

 

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