A unique scheme to purchase of an old car / jeep (not more than 5 years old). (Any make or model).
Avail maximum loan amount of 2.5 times of the net annual income or Rs. 15 Lacs, whichever is lower. If married, the spouse's income also considered provided the spouse guarantees the loan. Loan amount for used vehicles shall be subject to a maximum limit of Rs. 15 lacs.
Maximum repayment period of 72 months for vehicles having age less than 3 years and 48 months for vehicles having age of 3 years & above to 5 years.
Processing Fee :
Pre Closure Fee : 2%
Late Payment Fee :
Loan to Value Ratio :
Part Payment Fee : 0
MCLR : 8.9%
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
Permanent employees of Government/Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or reputed establishments. Professionals or self employed individuals, Proprietorship Concerns. Partnership Firms, Private /Public Ltd Co.
For Salaried Individuals, The applicant should be at least 21 years old at the time of application, and below 58 years of age at the time of maturity of the loan.
For institutions, where retirement age is 60 years, the upper age limit shall be 60 years.
For Self Employed Individuals, Any Proprietor, Partner, Professional or director above 21 years of age but below 65 at the time of the loan's maturity.
For Salaried Individual, The applicant must have been in current service for at least 3 years. Only 2 yrs for Individuals drawing salary through our branches & where letter of undertaking from employer is available.
For Self-Employed Individual, At least 3 years in business.
For Partnership Firms, Should have been in existence for at least 3 years.
For Private/Public Ltd. Co., Limited Companies should have been in existence for at least 3 years.
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