This is an easy finance scheme for purchase of a new car as well as second hand vehicle not older than

5 years.

Target Group
1. Salaried Group Regular Employee with minimum 6 months completed service. 2. Non-salaried Group Established professionals & Self Employed, Businessmen Farmers and Agriculturists.

3. Business Concerns (Corporates & Non Corporates)

4. Ex-staff and Pensioners

5. NRIs

Income Criteria
1. Salaried Group

Minimum monthly take-home pay would be Rs.10000/- after all statutory deductions and existing loans liabilities + EMI of the proposed loan Maximum loan limit 36 times of Gross Monthly Income. 2. Non-salaried Borrower Minimum income should be Rs.2.40 lacs per annum during the preceding year. Maximum loan limit three times of average gross annual income for the last 2 years. 3. Farmers & Agriculturists Minimum Gross Income of Rs. 2.40 lacs p.a. during the previous financial year. Farmers having land holding in their own name. Maximum loan limit: Three times of Annual Income of the previous financial year.

* Clubbing of income of spouse, major children for ascertainment of loan limit is considered on merits. * Likewise clubbing of income of regular earning parents is allowed for loan to major children.

4. Business Concerns (Corporates & Non Corporates)

Business concern must be in profit for last 2 years and cash flow during the currency of loan must be sufficient enough to repay the propose

Age
Minimum age 21 years & No maximum age stipulation

Margin Requirements
15% for new vehicle 30% for used vehicle upto 4 years old & 40% for used vehicle of more than 4 years old but upto 5 years old

Quantum of loan

For New Car:

Maximum finance would be 85% of the on Road price i.e. Ex Show Room Price + Cost of Registration +Insurance + One time Road Tax with For Pre-used Car: Maximum loan amount Rs.3.50 lac

Repayment
New Car: Maximum 84 EMI Pre-used Car: Maximum 36 EMI

Click here for Interest Rates

New Car :- Base rate + 0.25% Pre-Used cars :- Base rate + 4%

Processing Charge
1% of the loan amount maximum Rs.1500/-

Prepayment Charges : NIL

1080000

CAR
SL NO
1 2 3 4

DESCRIPTION MARGIN REQUIREMENTS QUANTUM OF LOAN REPAYMENT INTEREST RATE

CALCN

15% 85% 84 10.25%

FORD ECO SPORT

5 6 7 8

ON ROAD PRICE + extra DOWN PAYMENT LOAN AMOUNT EMI / month

800,000 120,000 680,000 -11,377

771,915.00 18,085.00 2.3428745393

ON ROAD PRICE EXTRA

CAR
months

MARUTI SWIFT ZXI

BMW 1 Series 116i (Petrol)

Renault Duster 1.6 RxE (Petrol)

650,000 97,500 552,500 -9,244

2,090,000 313,500 1,776,500 -29,722

813,137 121,971 691,166 -11,564

601406

-776,469.17 873,969.17 223,969.17

-2,133

-179,185.19

FORD CLASSIC 1.6 Duratec Petrol Titanium

Ford Figo 1.2 Duratec Petrol ZXI

750,000 112,500 637,500 -10,666

550,000 82,500 467,500 -7,822