Car Loan Interest Rates | Flexible Interest Rates on Car Loans

Home

Deposits

	New User - Register Now
	Internet Banking Demo

For product details click here

Car Loans to NRIs

Types of Loans Offered

We provide you loans to purchase passenger cars in India. The following types of loans are provided currently:

Product Features

New Car Loans
Eligible Applicants	Salaried Employees and Self-Employed individuals
Maximum Loan %	Upto 90% of the ex-showroom cost of the car
Maximum loan amount	Loans can be sanctioned for upto Rs.800,000.00 per applicant
Repayment tenure	Loans can be taken for a tenure of upto 60 months
Other features	Upto 2 vehicles per applicant Vehicles to be purchased for personal use only Two references to be provided in India NRIs applicant can appoint a resident Indian to hold Power of Attorney on their behalf to complete the documentation

Used Car Loans
Eligible Applicants	Salaried Employees and Self-Employed individuals
Maximum Loan %	Age of car + tenure applied < 72 months	Upto 80% of the valuation of the car
	Age of car + tenure applied > 72 months but < 96 months	Upto 75% of the valuation of the car
Maximum loan amount	Loans can be sanctioned for upto Rs.800,000.00 per applicant
Repayment tenure	Loans can be taken for a tenure of upto 60 months
Age of the Car	Age of the car at the end of loan tenure should not be more than 96 months
Other features	Upto 2 vehicles per applicant Vehicles to be purchased for personal use only Two references to be provided in India NRIs applicant can appoint a resident Indian to hold Power of Attorney on their behalf to complete the documentation

Additional Conditions:

Loans to NRIs are provided with the following conditions:

A Resident Indian who is the NRI’s blood relative or spouse, needs to stand as a co-applicant for the loan
Repayment of the loans is done from NRO / NRE rupee accounts of the NRI only