Vehicle loan

Vehicle Loan

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** Conditions Apply

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Personal
Who Can BorrowIndividuals /Proprietary /Partnership Firms/LLP/ Pvt. Limited Companies
PurposeFor Personal Use of Individual Borrower /Partners/ Director of the Company.
Limit75% of the Total On road Cost
SecurityHypothecation of vehicle
Margin25%
Rate Of Interest Upto 5 Years – 7.95 % p.a**
Above 5 Years – 8.50% p.a**
Repayment60 Months
[In case of Hi-End Vehicles 84 Months Repayment Period can be considered].
Processing FeesNo Processing Fees
Basic DocumentsKYC documents of Borrowers and Guarantors .
Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
Proforma Invocie/ Quotation Only from Authorised Dealer of the Vehicle to be purchased.
Commercial
Who Can BorrowIndividuals /Proprietary /Partnership Firms/LLP/ Pvt. Limited Companies
PurposeFor Personal Use of Individual Borrower /Partners/ Director of the Company.
Limit75% of the Total On road Cost
SecurityHypothecation of vehicle
Margin25%
Rate Of InterestUp to 3 Years – 9.75 % p.a
Above 3 Years Upto 5 Years – 10.50 % p.a**
Repayment60 Months
[In case of Hi-End Vehicles 84 Months Repayment Period can be considered].
Processing FeesNo Processing Fees
Basic DocumentsKYC documents of Borrowers and Guarantors .
Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
Proforma Invocie/ Quotation Only from Authorised Dealer of the Vehicle to be purchased.
Electric Vehicle Loan (Personal)
Who Can BorrowIndividuals
PurposeFor Personal Use of Individual Borrower /Partners/ Director of the Company.
Limit75% of the Total On road Cost
SecurityHypothecation of vehicle
Margin25%
Rate Of InterestUp to 5 Years – 7.95 % p.a**
Above 5 Years – 8.50 % p.a**
Repayment60 Months
Processing FeesNo Processing Fees
Basic DocumentsKYC documents of Borrowers and Guarantors .
Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
Proforma Invocie/ Quotation Only from Authorised Dealer of the Vehicle to be purchased.
Electric Vehicle Loan (Commercial)
Who Can BorrowIndividuals /Proprietary /Partnership Firms/LLP/ Pvt. Limited Companies
PurposeFor Personal Use of Individual Borrower /Partners/ Director of the Company.
Limit75% of the Total On road Cost
SecurityHypothecation of vehicle
Margin25%
Rate Of InterestUp to 5 Years – 9.50 % p.a

Repayment60 Months
Processing FeesNo Processing Fees
Basic DocumentsKYC documents of Borrowers and Guarantors .
Salaried: Salary Slips & Form 16 along with Salary A/c Statement for last o months.
Business: Copies of IT returns for last 3 years along with Financial Statements along with Business A/c statement for last one year.
Proforma Invocie/ Quotation Only from Authorised Dealer of the Vehicle to be purchased.