| Eligibility |
Employees of Central / State Govt., PSUs ,Local Registered Bodies, universities recognized by U.G.C. ,Schools/ colleges run by Govt. or local bodies with confirmed service of 3 years . Professionals /Self Employed , Employees of corporates clients of Bank and General public. |
| Purpose |
For purchase of vehicles ( Car , Van , Jeep & Two wheelers) . Old vehicle should not be more than 2 years old. |
| Age Limit |
21 to 65 years |
| Quantum of Loan |
| (i) Employees of Central/ State Govt PSUs , organisations employees of established & recognized schools/ colleges / local registered bodies and employees of corporates clients of Bank where loan instalment is paid by salary deduction or undertaking from for employer remitting the terminal benefits is available |
For New Vehicles : Thrice the average of annual income of past three years as per ITR / Salary details subject to a maximum of Rs.10 lac . (Income of spouse can be clubbed).
For Old Vehicles : Maximum Rs.5 lac |
| (ii) Professionals/ Self employed, CAs doctors , Architects and General public |
For new vehicle segment. Thrice the average of annual income of the past three years as per ITR subject to a maximum of Rs.10 lac ( Income of spouse can be clubbed ) . Maxm.Rs.10 lac ..
Loan upto Rs. 30 lac are also sanctioned on case to case basis.
For Old Vehicles :Maximum Rs.6 lac |
|
| Margin |
- For New vehicles 10%
- For old vehicles 30% ( Amount of loan shall not exceed 70% of market value of vehicle or value of vehicle net of depreciation @ 20% whichever is low)
|
| Rate of Interest (Vaild upto 31.03.2010)
|
| |
Upto Rs.3 lac |
Above Rs.3 lac upto Rs.10 lac |
Above Rs.10lac upto Rs.20 lac |
Above Rs.20 lac |
New Vehicles |
BPLR-3.50%
(Floor Rate 10.0%) |
BPLR-3.00%
(Floor Rate 10.50%) |
BPLR-2.50%
(Floor Rate11.0%) |
BPLR-1.75%
(Floor Rate 11.75%) |
Old Vehicles |
BPLR+0.5% |
BPLR+0.5% |
BPLR+0.5% |
BPLR+0.5% |
Collateral Linked |
BPLR-4.00%
(Floor Rate 9.50%) |
BPLR-3.75%
(Floor Rate 9.50%) |
BPLR-3.25%
(Floor Rate 9.50%) |
BPLR-2.50%
(Floor Rate 9.50%) |
|
* for details please contact our nearest branch.
