Find details of vijaya bank car loan through Vijaya Bank EMI calculator. Just enter the loan amount of car you want to get financed and rate of interest. Vijaya Bank EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.
New Car Loan Rates
Vijaya Bank avails you with host of services and facilities online with which you can get car loan approval in an easier way. The customers who are dreamt of owning their desired car will turn their dream into reality via the golden opportunity provided by Vijaya Bank. The eligibility criteria set by the bank that any individual having minimum gross income of Rs. 1.00 lakh per annum erases the hindrance that only silver-spooned can purchase the latest available cars. The bank even churns out the repaying capacity of an individual who had applied for loan by extending the tenure up to 8 years for new car while it is 5 years for used cars. Vicky. in proves to be the powerful tool through the provision of accurate information on processing fee, documentation charges, EMI amount of such banks
Loan Eligibility Calculator
Vijaya Bank Car Loan eligibility, Interest Rate, documents and process
- Salaried persons satisfying the following conditions
- Individual aged between 21 years and 60 years
- He / She is a permanent employee of :
- State / Central Government, the Defence / Police force or Autonomous Body.
- A public sector / joint sector undertaking or a Corporation.
- Reputed Public Limited Company.
- An established education institution / aided college / school.
- Any private establishment.
- He / She has a minimum service, so as to ensure that the entire liability is liquidated at least one year prior to his / her retirement.
- He / She should have sufficient net take home salary to service the present the loan applied for.
- The salary of the applicant should be credited to his / her account with the branch and he / she should give a letter in duplicate addressed to the employer undertaking not to revoke the Salary Mandate, without obtaining consent from the Bank. This letter should be sent by Registered Post by the branch to the employer and proof of despatch should be held on record. OR
- Where the employer has no system of remitting the salary of his staff members for the credit of their bank accounts, loans can be granted by taking an undertaking from the employer to deduct the monthly instalments / interest from the salary and to remit the same to the Bank till they hear to the contrary from the Bank.
- Pensioners drawing Service Pension (RPR, Family Pensions etc.) through our Bank.
- Professionals & Self Employed Persons such as Doctors, Engineers, Architects, Chartered Accountants, Lawyers, Consultants, Agriculturists, Business-men etc. aged less than 70 years having independent income
- For purchase of new motorcar of any make for private use or professional or business use.
Quantum of Loan
Loan up to 80% (in case of both new and old vehicles; but not older than 5 years) of the cost / invoice value of the vehicle including accessories and registration expenses can be approved in case of new vehicles
Entire loan has to be repaid with interest in not more than 60 equated monthly instalments
|Rs.25,001/- to Rs.2,00,000
|Rs.2,00,001 to Rs.1.00 crore
||Rs.220/- per Rs.1 lakh or part thereof.
|Above Rs.1.00 crore
||Rs.22,040/- for Rs.1 crore plus Rs.138/- per Rs.1 lakh or part thereof.
Hypothecation of vehicles purchased out of bank finance. HP is to be got noted in RC book issued by the RTA.
The vehicle purchased out of bank finance is to be comprehensively insured to its full value with Bankâ€™s Clause.