To provide financial support to purchase Old car less than 4 years old.

• Age: 21 to 67 years.
• Permanent employees of State/Central Government, Public sector undertaking, Corporations, Private Sector companies and reputed establishments.
• Professional, Self-employed, Business man and others who are income tax assesses.
• Persons engaged in Agriculture & Allied Agriculture who have regular source of income.
• Net Annual Income - Rs.2.50 lakh .
• CIBIL SCORE: Minimum 700.

10.95% p.a subject to revision from time to time.

Maximum Loan limit : Rs.25,00,000/-
Margin 
Loan amount up to Rs. 25.00 lakhs -15%


Repayment Period :Repayment period depends on the age of the vehicle.
Maximum life of the vehicle is to be considered as 7 years.
(Eg: If the vehicle is 4 years old, then the repayment should be(7-4) i.e 3 years only).

EMI / NMI Ratio:

Up to ₹5.00 lacs                   : 55%(including proposed loan EMI)

Above ₹5.00 to ₹10.00 lacs : 60% (including proposed loan EMI)

Above ₹10.00 lacs               : 65% (including proposed loan EMI)

• KYC ( Aadhar , PAN card original & Xerox copies)
• KYC for residential proof
• Latest income related documents
• Valid Driving License
• Quotation of purchasing vehicle ( with fitness certificate from reputed Garage)

direct link to service charges

Loan amount upto Rs. 25.00 lakh

• Hypothecation of vehicle purchased out of bank finance (Ensure Noting of Hypothecation Charge in the books of RTA and copy of  book duly noted with hypothecation.
• Guarantee of spouse, if his/her income has been taken into account for computing eligibility of loan amount.
• Check off facility(in case of salaried person) and PDC s (Post-dated cheques).