Avail loan for purchase of two vehicles not requiring heavy duty license.
Maximum quantum of loan for Indian make vehicles is Rs.50 lacs. Rs. 1 Crores for Companies and corporate entities, valid for individuals residing in India.
Maximum quantum of loan for Companies and corporate entities is Rs. 2 Crores, can be a fleet of vehicles.
Maximum quantum of loan for Non-resident Indians is Rs. 50 lacs.
Maximum quantum of 24 times of gross monthly emoluments in case of salaried employees/pension/ or two times of gross average annual income as per last 3 years IT returns.
Maximum quantum of 2 times average annual cash accrual as per firms / companies last 3 years audited balance sheet, Profit & Loss accounts.
Processing Fee :
Pre Closure Fee : 0
Part Payment Fee : 0
Late Payment Fee : 1% of loan amount minimum Rs.500 and Max.Rs.10,000.
MCLR : 8.40%
Bank account statement of the last 6 months.
Identity Proof: Voter's ID card / Driving license / Job card issued by NREGA / Aadhaar card / PAN card (PAN card only as identity proof)
Address Proof: Passport / Voter's ID card / Driving license / Aadhar card
Income Proof: Form 16 /Latest salary slips
Salaried employees, Professionals, Self-employed
Salaried employees, Professionals, Self-employed Non-Resident Indians- advance to be granted jointly with Resident Indians (close relative)
Age of the individual borrower not to exceed 65 years at the time of availing the advance.
Companies, Partnership Firms, Proprietary concern and other types of Corporate entities.
Hindu Undivided Family is not eligible
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