- Lowest interest Rates
- Longest repayment Tenure(7years)
- Financing 'On Road Price'
- Interest calculated on daily Reducing Balance
- No Pre-Payment Penalty
- For purchase of new passenger cars,Multi Utility Vehicles(MUVs) and SUVs.
- For purchase of second hand/used 4 wheeler car/SUVs of not more than 5 years old.
- Individuals aged between 21 and 70 years.
- Permanent Employee of State/Central Govt., Public/Joint Sector Undertaking, Private Establishment or Reputed Company.
- Pensioners drawing pension through our bank.
- Professionals/Self Employed persons having independent income.
How much you are entitled to?
- 85% of the cost/invoice of new vehicle.
- 70% of the market value of used vehicle, not more than 5 years old.
- 100% of the cost/invoice for new vehicles
- For salaried applicants, if salary mandate is provided from the employer and salary is remitted to the branches of our Bank.
- Providing mortgage of property secured to existing housing loan as continuing security.
What is your contribution?
- 15% for new vehicles or 30% of the cost/value for old vehicles.
Rate of interest
- MCLR 1 year + 0.80% = 9.45% p.a. (floating)
- 2 passportsize photos.
- Identity Proof.
- Residence Address Proof.
- Statement of account of the applicant/co-applicant for the past one year from their present Bankers.
- Salary slips for the last 3 months of the applicant in case of salaried person.
- Latest IT returns for 2 years for salaried/professional/businessmen/self employed applicant.
For more details contact our nearest branch or call to our toll free no 1800 425 5885.