|
Particulars |
Purpose |
For Purchase of new car |
Eligibility |
Car loan for Salaried Employees, Businessmen, Professional self employed |
Loan Amount |
80% of Quotation of vehicles (Basic price) |
Margin |
20% of quotation of vehicles |
Repayment Period |
Maximum 60 months |
Rate of interest |
Loyalty Customers - 08.00% |
Processing fee |
Nil |
Share linking |
2.5% of the loan amount sanctioned |
Guarantee |
Two guarantor Possessing property and also Income tax-payer |
Security |
Hypothecation of Vehicles |
Insurance |
Comprehensive insurance policy with bank clause is compulsory, and be renewed periodically during entire tenure of the loan at borrowers’ cost. |