Salient features:

• No Advance EMI.
• Longest repayment tenure (4 years).
• Lowest interest rates.
• Lowest instalment.
• LTV 80% of 'On Road Price' of vehichle (includes registration & insurance).
• Interest Calculated on monthly compounded basis.
• Flexibility of payment anytime during the months of finance period.
• No pre-payment penalty.
  

Purpose: For purchase of new passenger vehichles, cars, Multi Utility Vehicles (MUVs) and SUVs.

Eligibility: Net Annual Income of Rs. 60,000/- and above.

Loan Amount: There is no upper limit for the amount of a vehichle loan. A maximum loan amount of 48 times of Net Monthly Income or 4 times of Net Annual Income can be sanctioned.

Docments Required: You would need to submit the following documents along with the completed application form:

1. Statement of Bank account of the borrower for last 6 months.
2. Passport size photographs of borrower(s).
3. Signature identification from bankers of borrower(s).
4. A copy of passport /voters ID card/PAN card.
5. Proof of residence.
6. Latest salary-slip showing all deductions
7. I.T. Returns/Form 16: 2 years for salaried employees and 2 years for professional/self-employed/businessmen duly accepted by the ITO wherever applicable
8. Proof of official address for non-salaried individuals
9. Margin: 20% of the on road price (which includes vehicle registration charges, insurance, one-time road tax and accessories).

Repayment: You can enjoy the longest repayment period in the industry with us as long as 47 months.

Reimbursement: We also reimburse finance for the vehichles purchased out of own funds which are not more than 3 month old at rate of interest applicable to New Vehichle.

Interest: BPLR 11.4% interest rate vary as per the profile and tenure of loan applicant.

Processing Fee: Rs.4000/- or 0.5% which ever is higher.

Security: As per the Company's extant instructions.
 

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