This Auto Loan is designed for financing the purchase of vehicles (car, jeep etc.) for personal purpose to the individuals having identifiable and stable income sources.
1 Million – up to Single Obligator Limit (SOL)
The maximum tenure is 10 years from the date
|Loan is to be repaid on
Equated Monthly Installment (EMI) basis.
The total financing should not exceed 50% of
the total purchase cost for the vehicle. In case of second hand vehicle,
financing cost should not exceed 50% of valuated cost.
The Total financing should not exceed 80% of
the total purchase cost for Electric Vehicles (EVs) only.
|Employed and self-employed professionals
(Doctors/ Engineers/ Bankers /CAs /Teachers etc.) and other individuals having
reliable and stable source of income.
The applicant should provide at least the
following documents before initiating the credit proposal.