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Scheme for Financing of Four / Two wheeler
Eligible Borrower :
  • 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.

Purpose - For personal / private use only :
  • 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.

Nature & Amount of Facility :
  • For New Four Wheeler : Maximum – Rs.75.00 Lakh

  • For Old Four Wheeler : Maximum – Rs.25.00 Lakh

  • Two Wheeler (New Vehicle only) – Rs.5.00 Lakh


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**.

  • *On-road Price: Ex-Showroom Price inclusive of Registration Charges, Life Time Road Tax, Vehicle Insurance and Dealer Handling Charges only.

  • **Present value: As per Valuation by Approved garage/valuer.


Rate Of Interest:

Click here for latest Rate of Interest


Repayment Schedule:
  • New Car (Loan up to 25.00 lac) – Maximum 84 months (EMI)

  • New Car (Loan above 25.00 lac)–Maximum 120 months (EMI)

  • Old Car – Maximum 48 months (EMI)

  • Two Wheeler- Maximum 60 months (EMI)