| |
Particulars |
| Purpose |
(i)For Purchase of new car ,
(ii)For Commercial vehicles |
| Eligibility |
(i)Car loan for Salaried Employees, Businessmen,Professional self employed
(ii) Commercial vehicle for business purpose |
| Loan Amount |
80% of Quotation of vehicles (Basicprice + insurance + R.T.O. charges) |
| Margin |
20% of quotation of vehicles |
| Repayment Period |
Maximum 60 months |
| Rate of interest |
(i)For car personal use -11.50% P.A
(ii)For commercial vehicle –13.50% P.A Interest at monthly rest ( not eligible for credit rating ) Subject to change at the discretion of Bank |
| Processing fee |
click to view processing charge |
| Share linking |
1. Up to Rs.2.00 Crores 2.5% of the amount sanctioned
2. Above Rs.2.00 Crores 1% of the amount sanctioned |
| Guarantee |
Two guarantor Possessing property and also Income tax-payer |
| Security |
Hypothecation of Vehicles |
