Vehicle Loan

Salaried Individuals - in permanent employment for atleast 3 Years
Business Person, Firm , Companies - in business for atleast 3 Years
NRI - Resident relative to be taken as co-applicant and NRI to execute POA in favour of resident

Note: The minimum take home salary should not be less than Rs 15,000/- p.m. (after netting the EMI)

Vehicle Loans below Rs. 10.00 Lakhs - 90% of on road price (Small Car)

Vehicle Loans above Rs. 10.00 Lakhs - 85% of on road price (Premium Mid Segment Car)

Pre Owned Vehcile - 75% of the valuation amount or sale price whichever is less

Repayable in 84 Equated Monthly Installment

Vehicle Loan Rate

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