* Salaried Class Individuals. * Businessmen, Professionals and Self-employed . * Pensioners with repayment capacity. * Minimum Gross monthly income for purchase of Four wheeler should be Rs.20,000/-.
* 20 times of Gross Monthly Income Spouse Income can be included for calculating eligible amount if he / she has steady income. * Take home Income should be more than 40% of gross income after deduction of EMI for the proposed loan, apart from other deductions. * For Businessmen, Professionals & self-employed, based on their average income earned in the last 3 years and capacity / ability to repay the loan. * Maximum Loan amount for purchase of Two Wheeler : Rs.75,000/-. * Four Wheeler: Rs. 15,00,000/-”
- Processing fee: 0.225% of loan amount with a maximum of Rs.10000/-
- Four Wheeler: Maximum 84 EMIs (No holiday period) for salaried class individuals; Maximum 60 EMIs (No holiday period) for others.
- For 2 wheeler: Maximum 60 EMIs (No holiday period)
- Documents to be submitted for processing the application:
- Completed Application Form with passport size photograph.
- Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
- Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID.
- Proof of business address in respect of businessmen / industrialists.
- Proof of Employment.
- Salary Certificate.
- Proof of other income like rent, interest on investment, if any.
- Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
- Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
- Copy of Driving Licence.
- Quotation for Vehicle to be purchased from the authorized dealer