Vehicle Loan

Purpose: For purchase of New and Old vehicle (2 / 4 wheelers)

12.00% Two Wheeler

11.00% Four Wheeler

Loan Limit

Minimum Limit

Two Wheelers Rs.25000/
Four Wheelers Rs.50,000/-

Maximum Limit

Two Wheelers Rs.3,00,000/- for New and Rs.50,000 for Old
Four Wheelers Rs.10,00,000/- for New and Rs.7,50,000 for Old

Loan tenure

36 months to 60 months

Security

Hypothecation of vehicle

Processing Fees

1.00% of Loan Sanctioned amount + GST

Turn Around Time

Disburse within 48 hours from the date of application received.

Other Details

Margin: 10% of On Road Price
Guarantors: Two guarantors as acceptable to the bank for Four Wheeler
Share Holding: 2.5% of the loan amount & guarantor nominal member