Auto Finance

Auto Finance

  • Offering :Car Financing & Light Commercial Vehicles like Bolan
  • Facilitation Mode :Both Ready Delivery & Booking Modes
  • Loan Size :in Rs. 0.500 Million to Max Rs. 15 Million
  • Financing Tenor :Minimum 1 year to maximum 7 years (for new & locally manufactured)
  • Processing Fee :Rs. 5000/= excluding tax
  • Insurance / Tracker Charges:As per actual
  • Imported Car :At time of finance, imported car should not be older than 3 years
  • Co-Borrower :Spouse / Parents / Son / Real Brother
  • Minimum Equity :Minimum 15% of locally manufactured new vehicles Minimum 25% for imported vehicles.
  • Debt Burden :50% debt burden of net disposable income
  • Mode of Repayment :Direct Debit or Cash payment directly in deposited in Repayment Account & PDC
  • Mark Up :6M KIBOR + 3.5% to 4.5% p.a.
  • Age – Salaried Persons :Min 21 years to max 60 years at time of maturity.
  • Minimum Salary :Rs. 35,000 net take home reflecting in the bank statement
  • Age – Businessmen / Self Employed :Min 21 years to max 65 years at time of maturity
  • Determination of Income :Minimum average balance of Rs. 50,000/= for six months
  • Business Status :Minimum 3 years in current business

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