Car Loan



. A permanent employee of State/ UT/ Central Government, Public Sector Undertaking and autonomous bodies.
. A regular employee of Private Company or a reputed establishment, having minimum service of at least 2 years with current employer.
. Central/State Govt. Pensioners, except family pensioners, drawing their monthly pension from our bank or other banks, whose spouse is alive and is eligible for family pension.
. Proprietorship Concerns, Businessmen, Professionals and self-employed individuals having minimum existence of 1 year.
. Persons engaged in agriculture and allied activities.
. Joint borrowers are also eligible, i.e. parent/ spouse/ earning children/ sibling. However, only one co-borrower shall be permitted.


Age of the Borrower/s:

Minimum age at the time of loan application: 18 years


Maximum age:

For salaried employees: Maximum age at the time of loan maturity will be the age of superannuation.*

For others: The maximum age at loan maturity will be 70 years.


Minimum Income Stipulation:

  • For all types of individual borrowers: Gross Annual Income of Rs. 2.00 lacs.
  • For proprietorship/ partnership firms and companies:Cash Profit (PAT + Average depreciation) of Rs. 2.00 lacs for previous financial year.

Maximum Loan Amount

  • For Salaried - 36 months net monthly salary
  • For others – 3 times Net Annual Income (Average Annual Income of last two years).
  • Certified Income of parent/spouse/children/sibling can be taken into account for determining loan amount eligibility, provided that he/she is co-borrower/ co- applicant.
  • The upper ceiling on the loan amount shall be Rs. 60 lacs.


Gold Current Account holder. Minimum 10% of invoice value**
Customers maintaining average deposit of more than 5.00 lakh with our Bank for atleast one year.
Customers having aggregate limits (Working Capital and/ or Term loan) above 25 lakh having satisfactory dealing and proper account turnover for minimum 3 years.
Borrower/s with CIBIL CreditVision & Personal Score >750.
Existing Housing loan customers (with Sanction amount above 5.00 lakh & minimum standing of at least 3 years) who maintain good track record of repayment without any overdue.
For all other types of borrowers Minimum 15% of invoice value**

100% finance shall be available to applicants if they keep a fixed deposit with the bank for amount equal or more than the margin money and for duration not less than the repayment period of the loan. This deposit shall be kept under lien to the bank.

Invoice value shall include Cost of the vehicle (excluding cost of accessories) + insurance charges for 1st year at the time of delivery+ One time registration charges.


Primary Hypothecation of car/ vehicle to be purchased & Bank’s charge to be registered with Regional Transport Authority (RTO)/ VAHAN Central Registry.

Collateral: Third Party Guarantee of one person having sound financial net means good for the loan amount.

In case of pensioners/in-service employees covered under old pension scheme opting for repayment beyond superannuation date, Guarantee of spouse eligible for family pension shall also be obtained

Processing Charges:

0.50% of the loan amount.

For female borrowers, 25% concession in processing charges shall be applicable, provided loan is availed singly.

*Conditions Apply