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Saturday, 24-Feb-2018  05:28:52 AM
VEHICLE LOAN - (Commercial Vehicle)
PURPOSE Purchase of Tempo, Trucks, Tankers, Bus, Tourist Vehicle etc. (New/ Second-hand)
  1. Maximum Rs. 100.00 Lakh per vehicle Or
  2. 85% of vehicle quotation for purchase of vehicle including Show Room Price, One time tax, Insurance & Registration charge.Or
  3. Loan Eligibility= Loan amount would be derived at after ascertaining the repayment capacity based on net profit of the year,projected income, Debt Service Coverage Ration (DSCR) etc..

          Which ever is lower among 1 , 2 & 3.

B. Pre–owned(second-hand):

  1. Maximum Rs.30.00 Lakh for Tempo, Trucks, Tankers of not more than 3 years old and for Buses of not more than 4 years old. Or
  2. Not more than 50% of the valuation by automobile Engineer/ Agreement value which ever is lower Or
  3. Loan amount would be derived at after ascertaining the repayment capacity based  on net profit of the year,projected income,Debt Coverage Ratio (DSCR) etc
Which ever is lower among 1, 2 & 3.
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