VEHICLE LOAN S. No 1.

Heads Salient Features SBI No Advance EMI Longest repaymen t tenure (7 years) Lowest interest rates Lowest EMI LTV 85% of 'On Road Price' of car Interest Calculated on Daily Reducing Balance Flexibility of payment of EMI anytime during the month No pre-payment penalty Free Accident insurance Optional SBI Life cover Overdraft facility available PNB Loan for individuals as well as Business concerns Low rate interest CBI HDFC Covers the widest range of cars and multi-utility vehicles in India. ICICI Avail finance up to 90% of the exshowroom price of the car. Surprising rates interest the the IDBI Maximum Funding Covers wide range of vehicles and high end bikes Repayment period up to 60 months. Repay with easy EMIs. Hassle-free documentation. Attractive Interest rates. Tie-ups with Dealers and Manufacturers KOTAK MAHINDRA The widest range of new and pre-owned cars Attractive interest rates Flexible schemes Speedy loan processing

Borrow up to 3 - 6 times your annual income Get loans for the widest range of cars and multi-utility vehicles Avail up to 100% finance Get exclusive customer privileges

No ceiling of loan amount

Loan on Strength of Income

2.

Purpose

For purchase of new passenger cars, Multi Utility Vehicles (MUVs) and SUVs.

For the purchase of a new Car/ Van/ Jeep or also provide loan to

To purchase two wheeler or four wheelers solely for the purpose of

Small car Family car Luxury car

To buy a new car ICICI offer loans up to 90% of the exshowroom price of

Express auto loan

Finances most passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. Also finance

purchase old vehicles which is not older than 3 years. Finance will be provided for purchase of vehicle of indigenous/ foreign makes 3. Eligibility To avail an SBI Car Loan the borrower should be : Individual between 65 years of age. Regular employee of State / Central Government, Public Sector Undertaking, Private company or a reputed establishment. Professionals, selfemployed, businessmen, propr ietary/partnership firms who is an income tax assesse. Person engaged in Agricultural and allied activities. Net Annual Income Rs. 2,50,000/- and above. Individuals as well as Business Concerns (Corporate or non-corporate) Minimum net monthly salary/pension/ income 20000/-. Income of spouse/parent also considered

personal use

the car.

imported cars subject to fulfillment of certain terms and conditions.

All individuals of age 18 years and above Companies/Pa rtnership Firms/Societie s etc. Minimum Income Criteria

Minimum age of Applicant: 21 years Maximum age of Applicant at loan maturity: 65 years Minimum employment: 1 year in current employment and minimum 2 years of employment Minimum Annual Income: Rs 100000

Age Criteria: The applicant should be above 25 years old at the time of application, and upto 58 years of age at the time of maturity of the loan. Income Criteria: Gross annual income of at least Rs. 2.50 lakhs. Stability: The total employment stability should be more than 2 years and current employment stability of minimum 1 year.

Min age of the applicant: 22 years. Max age of the applicant: 65 years. Min. 2 years in service. Min. Annual Income of Rs. 1,50,000/Income proof: Salary Slip, Form 16/ ITR, Bank statement showing salary credit.

Minimum age of Applicant: 21 years Maximum age of Applicant at loan maturity: 58 years Minimum Annual Income: Rs 100000 net annual income Minimum employment of 6 months

For four wheelers Rs. 15000/- o.m. For two wheelers Rs. 5000/- p.m. Other than salaried person: For four wheelers - Rs. 180000/- p.a. For two wheelers - Rs. 60000/- p.a.

Have a Telephone at residence

4.

Processing Fee

0.255% of Loan amount Minimum: 510/Maximum 5100/Rs. Rs.

1% of the loan amount, with a maximum of Rs.6,000/-

Rs. 4100/- for loan over Rs. 4 lac to 5 lac Rs. 4450/- for over Rs. 5 lac to 10 lac Rs. 4950/- for loan over Rs. 10 lac

Upto 2.5 lac: Rs. 2500/2.5 lac to 3.9 lac: Rs. 3500/4.0 lac to 4.9 lac: Rs. 4000/5.0 lac to 9.9 lac: Rs. 4200/10.0 lac and above: Rs. 5000/-. Lower of the two amounts given below. 1. 5% of principle outstanding or 2. Interest outstanding for unexpired period of the loan. No additional security/collateral needs to be provided, apart from the car against which the loan is granted, being hypothecated to ICICI Bank.

For Segment A & B Vehicles: Rs. 2500 + applicable service tax For Segment C & D Vehicles: Rs. 5000 + applicable service tax

As applicable from time to time

5.

PrePayment Penalty

No Pre-Payment Penalty

No Payment Penalty

Pre-

Small pre-payment fee

Within 2 years from the date of Disbursement: 2% of the loan amount outstanding. After 2 years: Nil

Prepay after 6 months of availing of the loan by paying a small prepayment fee on the outstanding loan amount.

6.

Security

As per bank's extant instructions

The vehicle purchased with the amount of loan is to be hypothecated to the Bank. It will be registered in the name of the borrower jointly with the Bank. For new vehicle: The loan amount

Hypothecation of vehicle charges to be registered with RTO authorities. One set of key should be kept with bank.

As per bank's extant instructions

First mortgage of the property to be financed, normally by way of deposit of the title deeds or such collateral security as may be necessary.-

Generally no. But if income / age does not meet credit criteria of the bank then may be required to have a guarantor to stand surety for loan.

7.

Repayment Period

Longest repayment period upto 84 months

New Vehicles: Four Vehicles

Option to choose repayment period from 12 months to 84 months

Car Loans Repayment tenure ranges from 1 year

Repayment is done through Equated Monthly Installments

Repayment option from 12 to 60 months all specially designed to suit as per the requirement.

together with interest is to be repaid maximum in 84 Equated Monthly Instalments (EMIs) For old vehicle: The loan amount together with interest is to be repaid maximum in 60 Equated Monthly Instalments (EMIs)

-Max. 84 months Two WheelersMax. 48 months Old Vehicles: Four vehiclesMax. 36 months Two wheelersMax. 36 months Post-dated cheques should be submitted for the entire repayment period.

to 5 years for new car loans. Cchange the tenure of the loan before the loan is disbursed. The repayment due dates for the loan are 1st and 15th of every month Payments post-dated (PDCs) through cheques

(EMIs) comprising both principal and interest. Servicing of EMI would be through Post Dated Cheques (PDCs) Standing Instruction ECS

8.

Documents Required

1. Statement of Bank account of the borrower for last 6 months. The existing SBI account holder need to submit the following documents along with the complete application form: 2 passport photographs borrower(s). 3.A copy size of of

Application in prescribed format with documentary proof of identification, Documentary Proof of Income, Proforma Invoice from Dealer, Undertaking from the Employer regarding repayment,

Proof of Identity:Passport copy, PAN Card, Voters Id car, driving licence Income Proof:Latest salary slip with form 16. Address Proof:Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card.

Salaried individuals Last 3 months salary slip and Form 16/Income tax return of last 2 years. Self Employed: Income Tax Returns of 2 previous financial years

Age proof Address proof Identity proof Income proof

Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence Income Proof: - Latest salary slip with Form 16. Address Proof: - Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card Salary Bank Statement

passport /voters ID card/PAN card. 4.Proof residence of

5.Latest salary-slip showing all deductions 6.I.T. Returns/Form 16: 2 7.Proof of official address for nonsalaried individuals. 9.. Documenta tion Charges -

Duly Signed Blank Transfer Form. Old vehicle to be valued by approved valuer. PDCs to be submitted for entire repayment period.

Bank Statement:Not mandatory

Rs.300/- upto Rs.2 Lac Rs.500/- over Rs.2 Lac

As per bank terms and conditions

Rs. 350/-

As per actual cost.

As per the terms conditions of the bank

and

10.

Amount of Loan

There is no upper limit for the amount of a car loan. A maximum loan amount of 48 times of Net Monthly Income or 4 times of Net Annual Income

For Individuals: 25 times of the monthly net salary or Rs.25 lac, whichever is lower. For Business Concerns: No ceiling on loan amount.

Salaried persons - 24 months gross monthly salary on the basis of last salary drawn.

Upto 100% finance

Ffinance up to 90% of the ex-showroom price of the car. The Loan amount also depends on the car model. Higher loan amounts are available under specific enhanced income eligibility criteria.

Maximum Funding

Finances up to 90% of the car value

Other individuals - 2 times average annual income as per IT return of last 3years.

The maximum loan amount is Rs.10 lakhs

Net take home pay After accounting for all deductions including present loan net take home pay should be minimum 40% of Gross salary.