Loans will be sanctioned against hypothecation of new cars delivered from show room. Vehicles already delivered but not more than 6 months old can also be considered. Those who are not employees / salaried persons and with no assured monthly income proof can avail this loan. It is basically meant for professionals, self employed people, business people, agriculturists, etc., having no income proof.

• Loan up to 75% of on road price (i)
• Maximum loan : Rs. 10 lacs (ii)
• EMI/NMI ratio : 40 / 60 (iii) ( Loan amount eligible will be lower of the above three)
• Minimum credit score : 700
•  Age : 21 years to 65 years
•  Minimum declared yearly income : Rs. 5 lacs
• Interest calculated on daily balances and applied monthly
• Repayment in 5 years by way of EMIs
• Security : Vehicle Hypothecation and personal guarantee of spouse / parents / son / daughter \relatives, etc. , with sufficient income