Vehicle Loan

Vehicle loans

Term Loans for both individuals members and / or commercial entities, against hypothecation of the vehicle.

Minimum Margin –

New Vehicle

Car / Vehicle for personal use – 15% of the on Road Price / cost.
Two Wheeler - 15% of the on Road Price / cost.
Commercial vehicle (Van, Taxi, Tempo, truck, buses etc.) - 25% of the on Road Price / cost.

Repayment Period

For Salaried persons: Max. 72 equal monthly instalments (EMIs)

For Others: Max. 72 equal monthly instalments (EMIs)

For Two Wheeler: Max. 36 equal monthly instalments (EMIs)

Commercial Vehicle: Max. 60 equal monthly instalments (EMIs)

Interest Rate

Please refer ‘Interest Rates’ on this site.

Old Vehicle

No vehicle more than 3 years old shall be eligible for finance.
Minimum Margin - 50% of the market value of the vehicle.
Repayment period for cars old over one year – Max. 36 EMI & interest shall be 1.25 % extra / over the rate applicable / chargeable on new car loans.
Repayment period for cars old upto one year – Max. 50 EMI & interest shall be 0.75 % extra / over the rate applicable / chargeable on new car loans.
Interest rates shall be subject to change from time to time.