FREEDOM CAR LOAN

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Loans will be sanctioned against hypothecation of new cars delivered from show room for salaried persons and persons with assured monthly income. Vehicles already delivered but not more than 6 months old can also be considered

  •  Loan up to 90% of on road price for passenger cars, Multi Utility Vehicles and SUVs. (i)
  • Maximum Loan Rs.15 lacs (ii)
  • EMI/NMI ratio 50% (iii) (Loan eligible will be lowest of the above three)
  • Minimum Credit Score : 700
  •  Age : 21 Years to 65 Years
  •  Minimum yearly Income : Rs. 5,00,000/-
  • Interest calculated on daily balance method and applied monthly
  • Security : Hypothecation of vehicle, personal guarantee of spouse / parent / relatives/ etc. ,with sufficient income
  • Repayment within 7 years by way of EMI
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