Features
Financing of up to 100% on New cars
Hassle-free documentation
Key Details
TENURE
Up to 84 months
PART PRE-CLOSURE
Enabling you to pay loans quicker, which will save you from paying more interest otherwise.
REPAYMENT PROCEDURE
Customer friendly repayment schemes for your different requirements
New Car Loan Interest Rate
Mean rate and Interest rate range for the quarter July 2024 – September 2024
Segment
Mean Interest Rate
Min Rate (in %) p.a.
Max Rate (in %) p.a.
New Car
11.09%
9%
14.10%
*Mean rate = Sum of rate of interest of all loan accounts / Number of all loan accounts.
Annualised Percentage Return (APR) for the quarter July 2024 – September 2024
Segment
Min Rate (in %)
Max Rate (in %)
New Car
9%
14.10%
Interest Rate Effective From 1st October 2023
Product
Interest Rate (in %) p.a.
Tenure in (Months)
New Car Loan
9.00% - 25.00%
37 - 84
Here are our Charges
Charges
Schedule of Charges
Type
Charges
Processing Charges# [Range]
1% to 2.25% + GST
Documentation charge
Rs 2850 + GST
Overdue charges (ODC).
36 % P.A + GST
Bouncing charges (CBC).
Rs 500/- per Instance + GST
Insurance Non-Renewal penalty charges (IRP).
Rs 250/- + GST
Pre closure charges.
Upto 4% of pre closure amount + GST
Part Pre-payment charges
2% on amount Paid + GST
Field visit charges.
Rs 250 per visit + GST
Repossession charges ( paid to repo vendor).
At Actuals
Valuation charges (Paid to valuator vendor).
At Actuals
Legal charges (paid to vendor).
At Actuals
Parking Yard charges (Paid to vendor).
At Actuals
Motor Insurance
At Actuals
Credit Shield
At Actuals
Personal Accident Cover
At Actuals
Value added service
At Actuals
Duplicate NOC
Rs 500 + GST
Bank Swap charges
Rs 1000/- per Instance + GST
EMI Due Date Change
24% P.A on POS on the No. of days
CERSAI Charges ( Whatever Applicable)
At Actuals
Processing fee would depend upon the loan amount, the nature of vehicle and other factors
*All the above charges are subject to change and will be updated from time to time
Application forms complete in all respects will be processed within 14 days from the date of receipt of the application form.
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