Explore the Best Vehicle Loans for Your Needs

No upper limit in Vehicle loan quantum.
Upto 90% financing for new vehicle.
Minimal processing charges.
Lower Rate of Interest.
Reducing Balance Interest Rate.
No pre-payment penalty.
Quick Vehicle loan approval & disbursement.
Avail Loan to buy Pre-Owned Vehicle.
Financing of 2nd & subsequent vehicle purchases.

For Individuals	Loan can be availed by individuals for personal use: Purchase of Brand New 4-Wheeler including Jeep, Vans-Both. Purchase of Pre-Owned 4-Wheeler, not older than 3 years. Purchase of New Electrical 4-Wheeler. Individuals may apply singly or jointly with other eligible individuals.
For Corporates	Loan can also be availed by Companies / Firms for professional use i.e. purchase of vehicle for usage by their Directors / employees.
Quantum	No upper Limit. For Pre owned cars max Rs.50 Lakh (subject to required margin norms).
Processing charges	0.25% on the loan amount with a minimum of Rs.1000/-+GST and maximum of Rs.5000/-+GST Bank is celebrating Retail Loan Festival and waiver of 50% processing charges from 01.04.2025 to 30.06.2025.
Repayment Tenure	Maximum period: 84 months for new vehicles. 60 months for Preowned vehicles.
Margin	Margin for new vehicle: Loan Amount Margin for Central/State Govt/Autonomous bodies/PSU Emp. All other customer Up to Rs.10.00 Lakh 10% 10% Above Rs.10.00 Lakh and up to Rs.25.00 Lakh 10% 15% Above Rs.25.00 Lakh 20% 20% *Accessories can be financed limited up to Rs. 25,000/- amount. Margin for Pre-owned vehicle: Maximum loan quantum of Rs.50.00 lakh (after maintaining a minimum margin of 50%).
Used Cars	We also finance used cars (not older than 3 years) at the same low interest rates. We finance 60% of the agreed price or 60% of the value of the car or 60% of the original value of the vehicle, as assessed by an automobile engineer or Rs. 50.00 Lakh whichever is lower.

All the individual borrowers/professionals/reputed firms/companies.
Individuals
- Salaried Individuals Minimum gross salary of Rs 3.00 Lakh p.a.
- Other than Salaried Individuals Minimum gross annual income of Rs.3.00 Lakh p.a. as per latest ITR/ITAO subject to 3 years Gross Average Annual Income of not less than Rs. 2.50 Lakh.
Corporates
With subject to the satisfactory credit worthiness in respect of firms/companies by their net worth, repaying capacity, etc.

Stipulated Loan Application with 2 passport size photos of applicant / Co-applicant or guarantor.
KYC documents of applicant/Co-applicant or guarantor.
Proof of Residence (Driver’s License/Voter Id/Passport / Aadhar Card / Electricity Bill/Telephone Bill etc., /Business Proof related GST and others.
In case of salaried persons : Latest 6 months’ salary slips (including Co-applicants) and Form No.16 & ITR if any. supported by Employee ID/Appointment Letter/ Confirmation in services evidencing duration of the employment/3 years IT Returns & in case of NRI copy of work permit.
In case of self-employed persons : IT Returns filed for the past three assessment years along with Balancing sheet/Profit & Loss accounts if any.
Quotation of Vehicle from Authorized Dealer.
Valuation Report of Automobile engineer in respect of use vehicles (if applicable).

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