Vehicle Loan

  • Purpose
  • Eligibility
  • Loan Amount
  • Margin
  • Repayment
  • Security
  • Insurance

Purpose

Purpose

For Purchase of 4 Wheelers Car / Jeep etc.,

Eligibility

Eligibility

  • Minimum of RS.3.60 lakhs Gross Salary per annum & Net Take Home Salary 25% with a minimum of Rs.10000/- p.m.
  • Individuals Rs.3.00 lakh Minimum, supported by 3 years ITAO returns.
  • 5 Acres of Irrigated lands in respect of Agriculturist

The borrower shall have 40% net salary/ income after deducting proposed loan installment amount +existing loan.

Loan Amount

Loan Amount

  • 85% of Invoice + Registration + Insurance
  • 2 years Net Income, whichever less.

Margin

Margin

15%

Repayment

Repayment

  • 60 Months. For Agri-12 EHI.

Security

Security

  • Hypothecation of the vehicle
  • Co-obligation

Insurance

Insurance

  • Mandatory