|Income Criteria||For two Wheelers - ₹ 10000/- per month (Gross)
For Four Wheelers - ₹ 30000/- per month (Gross)
|Eligible persons||Salaried Individuals with confirmed / minimum 1 year of service. The length of previous employer's service(s) may also be taken into consideration for the criterion of 1 year service.
Professionals (including doctors)
Business entities Established business for not less than two years.
Agriculturist based on their land holding and repayment capacity.
Non-Resident Indians - jointly with Resident Indians (close relative)
|Co-applicants||Spouse, Father, Mother, Brother, Son, Daughter-in-law & Daughter (Married and unmarried both) can be co-applicant.|
|Assessment of eligible loan amount||
The minimum take home gross income/pension after all deductions including income tax & installment of proposed loan shall be as under:
The income of spouse, father, mother, brother,Son, Daughter-in-law & unmarried daughter (family members) can be taken into consideration to arrive at eligibility / MPBF / Net take home income.
|Components of finance||Show room price + one time road tax + Registration Charges & First year's insurance cost|
|Security||Hyp. of New Two wheeler / Car / MUV purchased out of Bank Finance. The hypothecation charge shall be registered in the books of RTO.|
|Margin||15% on on-road cost|
Two Wheeler: 84 Months
Loan amount upto Rs. 25.00 lacs: 100 Equated monthly installments
Loan amount above Rs. 25.00 lacs: 120 Equated monthly installments
|Rate of Interest (floating)||
|Process fee*||0.50% of loan amount subject to minimum of ₹ 500/- & maximum ₹ 7000/- plus ST.|
|Other Charges||Prepayment Penalty / documentation charges/ upfront fee- NIL|
|Reimbursement of finance||
Please enter your Loan reference nOAN/2o. as . eg. VEHICLELOAN/31082017/5