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Vehicle Loans >> Vehicle for business and personal use


Individual (Agriculturist, Businessperson & Govt./Semi Govt. Employees), Firm, HUF, Trust, Coop. Societies or a Company


For the purchase of new vehicle for business and personal use.

Loan Limit

Maximum amount up-to Rs. 15.00 Lakh with the break-up as follows:-

1. Individuals (Agriculturist & Businessperson), Firm, HUF, Trust, Coop. Societies or a Company

a) for the loans up to Rs. 6.00 Lacs = 80% of on road price of vehicle (RC & Insurance)

b) for the loans above Rs. 6.00 Lacs & up to Rs. 10.00 Lacs = 80% of Ex-Showroom price of vehicle.

c) for the loans above Rs. 10.00 Lacs & up to Rs. 15.00 Lacs = 75% of Ex-Showroom price of vehicle.

2. For Salary Earners= 80% of on road Price of Vehicle (Including RC & Insurance)

Rate of Intt.


Repayment Period

Maximum 8 years.

Collateral Security

One Good Securities as per satisfaction of the bank besides the hypothecation of the vehicle.

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