Suhana Safar (Vehicle Loan)

Purpose

For purchase of new passenger Cars, Multi Utility Vehicles (MUVs), SUVs etc. for private use.

For purchase of used car not more than -3- years old for private use.

For purchase of new Two Wheeler for private use.

Eligibility:

Salaried Employees/Pensioners /Staff members / Ex-Staff members.

Businessmen, Professionals, Farmers

Directors of Private / Public Ltd Co.

Proprietor of firm, Partners of partnership firm,

Corporate Entities i.e. Public Ltd Co / Private Ltd Co / Proprietorship firm/Partnership/LLP/Trust/Society etc. earning profit during last two financial years as per audited balance sheet/ ITR.

Age :

Minimum Age:

Applicant: -21- Years;

Co-applicant: -18- years

Maximum Age:

Age of the applicant / co-applicant / guarantor + repayment period should not exceed -70- years.

Maximum Amount of Finance :

Rs.100.00Lakh

Margin :

For New Vehicles– Four Wheeler: Minimum 10% of On-road Price.

Two Wheeler: Minimum 15% of On-road Price.

For Old Vehicles– Minimum 25% of Present Value.

Features :

Special concession @ 0.25% to the borrowers having housing loan.

Special concession @ 0.25% to the borrowers offering CRM securities, present value not less than 50% of advance value. Maximum allowable special concession is 0.25% only

No Collateral upto loan amount of Rs.25.00Lakh.

No Personal Guarantee for Permanent PSU/Government Employees having minimum of 2 years’ service/Staff & Ex-Staff.

No processing & documentation charges till 31.03.2024.