Avail loan for purchase of used Car, Van or Jeep subject to not more than 4 years old from the date of first registration and in good working condition.
Borrow up to 60% of cost of the vehicle with a maximum of Rs. 10 lakhs.
Repayment period as long as 36 months.
Processing Fee : 0.25
Pre Closure Fee : 0
Late Payment Fee : 2% p.a. will be charged additionally for the overdue period in respect of loans above Rs. 2 lacs
Loan to Value Ratio :
Part Payment Fee : 0
MCLR : 9.45%
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 persons who are permanent employees of State / Central Government, Public Sector Undertakings / Corporations, Private Sector Companies of repute, Reputed Establishments or Professionals & Self-employed persons, Businessmen & Agriculturists.
For Salaried persons annual income (by way of salary & other income) should be at least Rs.1.20 Lakhs and net monthly income should be at least twice the monthly installments fixed for the loan (i.e. EMI)
For others annual income of at least Rs.1.20 Lakhs
Maximum age of the borrower under all category should not exceed 65 years as on the date of maturity of loan
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