Purpose:Purchasing new & used four wheelers for private use.
* Minimum amount Rs 25,000
* Maximum up to Rs 50 Lakhs for Individuals and Rs 200 Lakhs for Corporates / Group Loans
* Residents - monthly income not less than Rs 7,500.
* NRIs - monthly income not less than Rs 20,000.
* Deductions including the proposed loan within 50 % of salary.
* Spouse's income can be clubbed.
* If agricultural income is considered, the borrower should own at least 2.5 acres of land with yielding cash crops.
* In the case of used vehicles 75 % on lower of depreciated /market / purchase value only eligible.
* New Vehicles (other than two wheelers) - 60 months
* Used Vehicles - 60 months
* New two wheelers - 48 months