Car Loan

Car Loan

 

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 8.25%
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.