Car Loan

 

Particulars

Purpose

For Purchase of new car  

Eligibility

Car loan for Salaried Employees, Businessmen, Professional self employed

Loan Amount

80% of Quotation of vehicles (Basic price + R.T.O. charges)

Margin

20% of quotation of vehicles

Repayment Period

Maximum 84 months

Rate of interest

Loyalty Customers - 7.20%

Processing fee

Nil

Share linking

1.5% of the loan amount sanctioned

Guarantee

Two guarantor Possessing property and also Income tax-payer

Security

Hypothecation of Vehicles

Insurance Comprehensive insurance policy with bank clause is compulsory, and be renewed periodically during entire tenure of the loan at borrowers’ cost.

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