For Purchase of all Variants of new car,suv,4 wheelers & two wheelers-- scooter/motor cycle etc.

(non-commercial use- to be registered as private vehicle)
For purchase of Second Hand Cars to be used as private vehicle only

For all individuals - Minimum Income criteria -For two Wheelers - Rs. 10000/- per month gross

For Four Wheelers-Rs. 15000/- per month gross

Eligible persons :

Salaried persons/retired
Minimum 1 year of service

Retired employees/pensioner
Age should not exceed more than 65 years

Businessman/professional
No age bar. Established business for not less than 2 years service

Agriculturist
Based on the land holding

Assessment of eligible loan amount :

Upto Rs. 50000/- pm 40%
Above Rs. 50000/-pm 30%

In case of Business entities -Cash generations to satisfy the repayment of the proposed loan

Process fee :

0.50% of loan amount with a minimum of Rs.500. +Service tax, if any.

Amount
Rs.7.50 lacs

Margin
20% (Under TVS) & 30% (Non TVS)

Rate of Interest
Loan repayable within 36 months -- BR+3.00%

Car/Vehicle Loan Scheme Rate of Interest