To buy New/second hand - Car / Four Wheelers for personal or professional use
Term Loan
IIndividual / HUF / Partnership Firm / Limited Company / Trust
Individuals
Margin :
- 10% of “on Road Price” for New Vehicle.
For Second Hand Cars - 30% of the Purchase Value or Market value, whichever is lower.
Repayment :
- New Vehicle – Maximum 84 EMI/MI
- Second Hand Vehicle – Maximum 60 EMI/MI
Security :
- Hypothecation of Vehicle to be financed
Interest :
Fees & Charges
- 1% of the Limit Sanctioned without any maximum cap.