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.

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Eligibility

  • 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)

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Quantum

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

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Repayment Period

Repayable in 84 Equated Monthly Installment

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Security

  • Hypothecation of vehicle purchased
  • Minimum One Guarantor
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Rate of Interest

    Vehicle Loan Rate
  • New Vehicle - PLR less 4.25% i.e. 7.75%*
  • Pre Owned Vehicle - PLR Less 2.00% i.e. 10.00%
  • *Contact your nearest branch for details

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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

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Pragati Scheme

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Personal Vehicle Loan

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Doctor Care

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Loan Against Shares and Units of Mutual Funds

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Loan Against Bank Deposit

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Loan Against Insurance Policy

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Gold Loan

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Travel Loan

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Reverse Mortgage Loan - Aashraya

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180 123 0209

ccbl@citizencreditbank.com

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

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