Car Loan Pmc-bank
Private car loan: In the past, owning a car or two wheeler was matter of prestige and symbol of ones standard of living. Due to economic development and availability of variety of vehicles in the market, it has become a way of life. It leads to comfort of life and helps a person in his profession and vocation. It increases ones efficiency and income generation capacity. Realising this need of the person, the Bank has designed a loan scheme called “Car Loan Scheme"
Purpose - To purchase a four wheeler
Loan Amount - The loan amount covers the cost of the vehicle as per invoice, registration and one time tax in case of new vehicle and agreement value or market value, whichever is lower, in case of second hand vehicle after maintaining the prescribed margin.
Period of Loan
- New Vehicle - Maximum 5 years
- Second Hand Vehicle
| Banks/Rates | HDFC Bank | Kotak | Axis Bank | State Bank of India (SBI) |
| New Car Loan |
9.45% - 12.50% | 11.50% - 13.50% | 9.40% - 12.00% | 9.45%( for WOMEN) 9.50%( for Others) |
| Processing Fee | Up to 2.5 Lakhs: Rs. 3220/-, (Above 2.5 Lac, Rs.4390/- to Rs.5870/-) | Rs.3300/- to Rs.4750/- | Rs.3500/- to Rs.5500/- | Nil |
Car loan Interest Rate -
Margin
Security - Hypothecation of the vehicle to be purchased. Guarantee - One or two depending on the size of credit facility *Conditions Apply |
