Vehicle Loan

Purpose

For Purchase of 4 Wheelers Car / Jeep etc.,

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

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

Margin

15%

Repayment

• 60 Months. For Agri-12 EHI.

Security

• Hypothecation of the vehicle
• Co-obligation

Insurance

• Mandatory