VEHICLE LOAN

Enjoy speeding away in your new car by opting for our Personal Vehicle Loan, or get that same thrill with cost-savings (used cars). Our competitive rates will let you hit the road with peace of mind.

icon

Eligibility

FOR SALARIED INDIVIDUALS

  • Salaried individual should be in permanent employment for at least 3 years
  • Avg. Net Salary up to Rs.30,000/- 25 times of of Avg. Net Monthly Salary (latest 3 months) for loans up to Rs. 20 lakhs
  • Avg. Net Salary > Rs.30,000/- 30 times of of Avg. Net Monthly Salary (latest 3 months) for loans up to Rs. 20 lakhs
  • Avg. Net Salary (min Rs.50,000/- p.m.) - 40 times of of Avg. Net Monthly Salary (latest 3 months) for loans above Rs. 20 lakhs

IN CASE OF BUSINESS / SELF-EMPLOYED

  • Avg. Net Cash accruals <= Rs.5.00 lakhs;
    3 times of Avg. Net Cash accruals (last 3 years)
  • Avg. Net Cash accruals > Rs.5.00 lakhs;
    4 times of Avg. Net Cash accruals (last 3 years)
  • Avg. Net Cash accruals (Min.Rs.10.00 lakhs p.a.);
    5 times of Avg. Net Cash accruals for loans above Rs. 20 lakhs.

IN CASE OF NRI

  • Resident relative to be taken as co-applicant
  • NRI to execute POA in favour of resident

Note: The net take home salary should not be less than 25% of gross monthly salary (after netting the EMI)

icon

Quantum

Vehicle Loans below Rs. 8.00 Lakhs - 90% of on road price (Small Car)

Vehicle Loans above Rs. 8.00 Lakhs - 85% of on road price (Premium Mid Segment Car)

2nd hand vehicle - 50% of the valuation

icon

Repayment Period

Repayable in 84 Equated Monthly Installment

icon

Security

  • Hypothecation of vehicle purchased
  • Minimum One Guarantor
icon

Rate of Interest

  • New Vehicle - PLR less 3.25% i.e. 8.75%
  • 2nd Hand Vehicle - PLR i.e. 12.00%

icon

Documents Required

  • PROOF OF IDENTTIY
    Aadhar Card/Driving license/ Passport/ PAN card/Election card/Job card issued by Govt. agencies
  • PROOF OF RESIDENCE
    Aadhar Card/Driving license/ Passport/ Election card/Job card issued by Govt. agencies
  • PROOF OF INCOME - SALARIED INDIVIDUAL
    Form 16A, Latest Salary Slip for 3 months, Salary bank account statement of last 1 year
  • PROOF OF INCOME - BUSINESS
    Last 3 years Balance Sheets/Income Tax Returns and Salary/Business bank account statement of last 1 year
  • Proforma invoice (for new vehicle) / Valuation report (for 2nd hand vehicle)
  • Comprehensive Insurance with Bank clause
  • Bank’s charge to be registered with RTO
  • Blank Transfer Forms

LOAN PRODUCTS

icon

Business Loan

icon

Scheme for Commercial Transporters

icon

Pragati Scheme

icon

Lease Rental Discounting

icon

Housing Loan

icon

Personal Vehicle Loan

icon

Surety/Consumer Loan

icon

Doctor Care

icon

Loan Against NSC / KV

icon

Loan Against Shares and Units of Mutual Funds

icon

Loan Against Bank Deposit

icon

Loan Against Insurance Policy

icon

Gold Loan

icon

Education Loan

icon

Travel Loan

icon

Reverse Mortgage Loan - Aashraya

icon

Loan Against Property

icon

Super Bike Loan

icon

MSE 100

Stay Updated

From our new features to promotional announcements,
get the latest on what we are up to.

How can we help you?

If you have any questions and you can't find the answer on our website, give us a call or message us.

26442829 / 26442830 / 26442831

ccbl@citizencreditbank.com

Citizencredit Co-operative Bank Ltd.
CITIZENCREDIT CENTRE
CTS No:236, Marve Road, Orlem,
Malad (W), Mumbai 400064

Hi! My name is

I have a query about

You can reach me at

or