|
|
Particulars |
| Purpose |
For Purchase of new car |
| Eligibility |
Car loan for Salaried Employees, Businessmen, Professional self employed |
| Loan Amount |
90% of Quotation of vehicles (Basic price + R.T.O. charges) |
| Margin |
10% of quotation of vehicles |
| Repayment Period |
Maximum 84 months |
| Rate of interest |
7.90% |
| 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. |
