Features & Benefits

• Lowest rate of Interest.
• No pre-closure or pre-payment charges when made from internal accruals
• Lower processing fees
• Maximum loan amount up to Rs 20.00 Lakh
• Term Loan as well as CC available
• Repayment period up to 5 years
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Eligibility

• Medical Practitioner having minimum qualification of MBBS/BAMS/BDS and having independent practice
• Age: 21 to 70 years
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Limit & Margin

• New Vehicles
• 90% of the cost of vehicle.
• Pre - owned Vehicles
• 70% of purchase consideration /insured value /value assessed by Automobile Engineer/ Insurance Surveyor, whichever is lower.
• The vehicle considered for finance should be lien-free.
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Security

• Upto 5 lakhs
• Hypothecation of Vehicle
• & Guarantee / Co obligation of a credit worthy person
• Above 5 lakhs
• Hypothecation of Vehicle
• Equitable Mortgage of landed property of value not less than 150% of loan amount / Equivalent secuity of Approved securities.
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Repayment

• Brand New Vehicle
• Two Wheeler : Within 60 months in EMI
• Four Wheeler : Within 84 months in EMI
• Pre-owned Vehicle
• To be repaid within a maximum period of 60 months or up to the appraised economic life of the vehicle as per the valuation cum road worthiness certificate, whichever is earlier
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Interest Rates & Charges

• For Loan interest rates click here
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