Title Norms
Purpose Purchase of New Car And Two Wheeler.
Eligibility
  1. Salaried person’s, with minimum one year confirmed service.
  2. Other than salaried with regular source of income.
Limit of loan
  1. Maximum Rs.10 lakh for 4 Wheeler.
  2. Maximum Rs.1 lakh for 2 Wheeler.
Basis of Advance
  1. Salaried : Max 40 times of Avg Net Monthly Salary.
    Businessmen : Max 5 times of Net Cash Accruals.
  2. 80% of Showroom cost.
Repayment Period Salaried & Businessmen: 3 years to 5 years.
Rate of Interest (Reducing)
4 Wheeler 
2 Wheeler 

12%
13%  
Processing fees 2 % of the Loan amount.
Shareholding 10% of loan amount
Security
  1. Hypothecation of Vehicle.
Documentation
  1. Duly filled prescribed application form
  2. Photo Identity & Residence Proof of the Applicant
  3. Income proof a) or b) as applicable
    a)Salaried person : salary slips for last 3 months and bank statement for last 3 month or ITR/Form 16 of the latest one year
    b) Businessman/Professional/self employed: last 3 years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
  4. Proforma Invoice of the Authorized dealer.