1

Eligibility

5. Permanent employees of Central/ State Governments / Public Sector Undertakings (PSU).
5. Permanent employees of reputed Education Institutes.
5. Minimum gross monthly salary: Rs 30000/-

2

Age limit

5. Minimum : 18 years

5. Maximum: Subject to adjustment of loan before the age of

1. Employee without pension  – 60 years
2. Employee with pension or NPS – 70 years

3

Quantum of Finance

5. Minimum: Rs. 50000.00
5. Maximum: Need based finance

4

Margin

 For New Vehicle- Applicable margin of on-road price inclusive of one time Road Tax, Registration & Insurance, shall be as under:

• Govt/PSU employee- 5%
• Govt/PSU employee where salary A/c with our Bank- NIL

For existing borrowers who have availed Mortgaged backed loan(s) from the Bank and the same is running regular including fresh sanction, NIL margin, of on-road price inclusive of one time road tax, registration & insurance.

5

Rate of Interest

Please click here For Rate of Interest

6

Repayment

For new four wheeler vehicles: Max. 84 months.

For new two wheeler vehicles:  Max. 60 months

7

Prepayment Charges

NIL

8

Processing Charges

Four Wheeler Loan: 0.25% on the loan amount, subject to minimum of Rs.1000.00 and maximum of Rs.15000.00

Two wheeler Loan: 0.25% on the loan amount, subject to minimum of Rs.1000.00.

Concession in applicable processing charges as under:

1. Where salary account is maintained with our Bank – 50% concession
2. For others: 25% concession

10

Inspection Charges

NIL

11

Documentation Charges

Actual Stamp/ Revenue / Legal opinion/ valuation report / Index inspection/ Mutation expenses etc.