VEHICLE LOAN
Product Features
- Loan for cars / vehicle ranging from small & compact cars to SUVs and MI-JVs
- New Vehicle Loan amount ranging upto Rs.20 Lakhs.
- Convenient loan repayment tenure from 36 to 84 months
- LTV upto 85% of the value of the New Vehicle (includes Ex-Showroom
Price + applicable taxes + Insurance)
- New Vehicle loans at attractive fixed rates of interest available
Eligibility & Loan Criteria
- Applicant's age should be minimum 18 years and maximum 57 years at
loan maturity (maximum 60 years for Govt. employees.)
- Guarantee of two persons required
- Minimum one landline contact at residence or offce and a post-paid
mobile connection required
- No collateral for GOVT. employees & Proffessionals
List of Documents Required
- PAN Card - For Individual / Partnership Firm
- Identity Proof - Voter ID / Driving License / Passport
- Address Proof - Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed / Bank Statement
- Business Continuity Proof - Document dated 5 years old (Bank Statement / Sales Tax Challans / IT Returns / Shops & Establishment Certificate / Partnership Deed)
- Passport Size Photographs of all applicants & co-applicants
- Any other valid Photo ID card issued by central or state government
Vehicle Documents
- Pro-forma Invoice of the Vehicle
- Margin money receipt from the dealer
- RTO set
For Salaried Individuals
- Latest 6 salary slips (Or Salary Certificate on original letterhead with
deductions and salary components.)
- Latest 3 form 16s (Duly signed by the authorized signatory of the
company) OR Latest 3 years IT Return
- Bank statements from the borrower's primary account/s for last 12
months
For Self Employed Individuals/Sole Proprietorships
- Latest audited ITR and financials for last 3 years (Balance Sheet, Profit & Loss Account, Computation of Income)
- Bank statements from the borrower’s main account for last 12 months
For Self-Employed Professionals
- Latest audited ITR and financials for last 3 years
- Bank statements from main account for last 6 months
- Professional qualification and degree certificates (Doctors, Architects, Chartered Accountants etc.)