Objective
To offer hassle free vehicle loan to existing Home Loan Borrowers
Purpose
Purchase of car/ two wheeler for personal use.
Eligibility
All existing home loan borrower accounts where the loan has run for minimum 3 years (excluding moratorium period) without a single default in EMI.
Age Of Applicant
Same as in Vehicle loan scheme Click Here
Type Of Facility
Term Loan
Security
Hypothecation of vehicle to be purchased
Insurance
Vehicle to be comprehensively insured and cost to be borne by borrower.
Assessment Of Limit
90% of On road price of Car/ two wheeler, Maximum Rs. 10 lacs
Special Features
No pre-sanction/ Fresh Income proof required.
Maximum Repayment Period
- Four Wheelers : 100 months
- Two Wheelers. : 84 months