Car Loan Scheme

 Key Features:

• Eligibility : This Scheme is available for Salaried Employees, Doctors, Chartered Accounts, and Traders etc. for Purchase new car.
• Margin : Minimum 25% margin required.
• Repayment : The maximum repayment period will be 84 months.
• Security : The Purchased car will be treated as prime security and if borrower has LIC Policies, assignment of policies will be treated as collateral security.
• Interest Rate : Interest Rate will be @ 8.75% for period of 60 months and 9.00% for 84 months.
• Required Documents : Quotation of Vehicle, Required Margin is 25% of total Quotation price ( on road price) of vehicle, Last 3 Years Financial statements with I.T.Returns, If 100% liquid Security no Guarantor required, If 50% liquid Security 1 Guarantor required & their Income related documents, LIC policy & Borrower business related documents, KYC documents of Borrower & Guarantors, Financial Statement/ownership abstract of Guarantors.
• Loan Service charges/Processing Fee : Per lakh Rs.230/-