• Salaried Individuals in permanent employment
  • Professionals & self-employed persons
Sanction Limit
  • 85% of the on road cost as per Proforma Invoice of the vehicle
  • 50% of approved valuer’s value of 2nd hand vehicle
  • Repayable on an EMI Basis
Repayment period
  • New Vehicle - 4 years to 5 years
    (depending on loan amount)
  • Old Vehicle - 3 years
  • No pre-payment penalty
Rate of interest
  • Hypothecation of vehicle purchased
  • Minimum One Guarantor
Documents Required
  • Proof of Residence - Aadhar Card Card/Driving license/ Passport/ Electricity Bill/ Telephone Bill
  • Proof of Income - Latest Salary Slip or last 3 years Balance Sheet or Income Tax Returns
  • Proforma invoice (for new vehicle)
  • Valuation Certificate from Bank's approved valuer (for 2nd hand vehicle)
  • Comprehensive Insurance with Bank clause
  • Bank’s charge to be registered with RTO
  • Blank Transfer Forms