Vehicle Loan

The maximum loan amount depends on the vehicle type and your eligibility. For new cars, we finance up to 90% of the on-road price with no upper cap on high-end vehicles. For two-wheelers, financing up to 95% is available with a maximum loan amount of up to ₹5 lakhs. For commercial vehicles, we offer up to 85% financing depending on the vehicle type and usage.

The loan tenure varies by vehicle type. For new cars, we offer tenures up to 7 years. For used cars, the maximum tenure is 5 years. Two-wheeler loans come with a maximum tenure of 3 years, and commercial vehicle loans can be availed for up to 5 years. The exact tenure will depend on the vehicle age, type, and your financial profile.

Yes, we offer loans for used vehicles. For used cars, the vehicle should not be more than 5 years old at the time of application, and for commercial vehicles, the age limit is typically 3-5 years depending on the vehicle type. An evaluation of the vehicle's condition and market value will be conducted before loan approval. The loan amount for used vehicles is generally up to 80% of the vehicle's valuation.

Yes, a processing fee starting from 0.50% of the loan amount (plus applicable GST) is charged. The exact fee may vary based on the vehicle type, loan amount, and your relationship with the bank. This fee is usually deducted from the loan amount at the time of disbursement. Special promotions with reduced or waived processing fees may be available from time to time.

Yes, you can make partial or full prepayment of your vehicle loan after paying a certain number of EMIs (typically 6-12 months). A prepayment charge of 2-5% on the prepaid amount may apply for fixed-rate loans. For floating rate loans, prepayment charges are typically waived. The exact terms and conditions regarding prepayment will be mentioned in your loan agreement.

With complete documentation, vehicle loan approval typically takes 24-48 hours. Disbursement follows within 1-2 working days after approval and completion of all formalities. For used vehicles, the process might take slightly longer due to the additional vehicle evaluation step. Pre-approved offers for existing customers can result in even faster processing times.