Features
Interest Rate: Base Rate + upto 2.00% premium per annum
Facilities
The loan facilitates the purchase of brand new or second-hand private vehicles. Financing is available for up to 50% of the invoice value (new vehicles) or valuation amount (second-hand vehicles) . The loan is repayable through EMIs with a maximum repayment tenure of up to 7 years for new vehicles (and up to 10 years from manufacture date for high-resale brands like Toyota, Hyundai or BMW).
Requirements
- Passport size photographs of Applicant
- Applicant’s Citizenship certificate
- Certified income source
- Photographs and Citizenship certificate of Guarantors
- Quotation of vehicle from authorized dealer
- Updated Blue Book in case of second hand vehicle
- Other supporting documents on demand
- National Identity Number (NID)
Fee Charges
- Administrative Charge – 1 %
- CIC Charge – Rs. 282.50 per inquiry (For No Transaction Report)
- Rs. 621.50 per inquiry (For Transaction Report)
