- 75% of Ex-showroom cost for new vehicle, 50% of cost (based on valuation) used vehicle
- Loan amount depending upon repayment capacity of customer from a, & b whichever is lower.
1) For salaried customer:
- Applicant should have permanent job in government, co-operative or in private sector.
- Undertaking regarding deduction of installment from salary is required.
- Total deduction including installment of loan should not be more than 65% of monthly payment.
2) For self employed:
- Applicant should be income tax payee.
- Last 3 years Balance sheet, Profit & Loss account, ITR, statement of computation of income.
For two wheelers Maximum 3 years
For four wheelers Maximum 5 years
- Hypothecation of two wheeler / four wheeler to be purchased.
- Two guarantors
Pre-payment Charges
- Pro form a invoice / Quotation from dealer, valuation for old vehicle.
- Photographs, identy proof, age proof, photo proof, residence proof of borrower & guarantor.
- Old Vehicle's original copy of R.C.T.C. book, Tax book, Insurance policy, Invoice Etc.
- In case of salaried customers salary slip, IT returns with computation of income.
- In case of self employed profit & loss A/c, balance sheet & IT returns.
- Blank vehicle transfer form duly signed by applicant.
