Loan Amount
A. Brand
New car :
100% of Invoice Value. B. Second Hand Car : 80% of Agreement Value
or Valuation
Report whichever is less, if car is up to 2 years
old.
70% Of Agreement Value or Valuation Report whichever
is less,
if car is 2 to 3 years old.
Rate
of Interest
A. For New Vehicle :
Repayment Period upto 3 years. 11.00% Floating
Repayment Period above 3yrs. & upto 5yrs. 11.50%
Floating B. For Second Hand Vehicle : Loan Upto 2 Lacs
Loan above 2 Lacs
For
Vehicle less than 3 yrs. old. Repayment
Period upto 3 yrs Loan Upto 2 Lacs - Loan above 2 Lacs
Rate
Of Interest -14.00%
Service Charges :
0.50% of loan amt. (Min. Rs.2000/-)
