Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Eligible vehicleNew passenger car, multi-utility vehicle or SUV; finance is calculated on on-road price including registration and insurance
Source 1Current fixed interest-rate range8.70% to 9.85% p.a., priced by customer segment, CIC score and tenor against the current one-year MCLR of 8.70%
Source 2Maximum financeUp to 100% of on-road price, further constrained by income multiples and underwriting
Source 3Maximum repayment periodUp to 84 months, with optional reduced EMI for the first six or 12 months on qualifying tenors
Source 4Minimum published annual income₹3 lakh for specified employees and tax assessees; ₹4 lakh for applicants engaged in agriculture and allied activities
Source 5Processing feeBy loan size: salaried and pensioner customers ₹1,000/
Source 6Prepayment and foreclosureNo prepayment charge; no foreclosure charge after two years
Source 7Benefits and features
- Up to 100% of on-road price
- Rates from 8.70% p.a.
- Seven-year maximum tenor
- Daily-reducing balance
- Flexi Pay option
Eligibility
- Applicants must be aged 21 to 70 and meet the published category-specific income rules.
- Actual rate depends on CIC score, customer segment and tenor.
Passing a listed condition does not mean the bank will approve an application.
Documents the bank lists
- Application and KYC
- Income evidence appropriate to applicant category
- Recent bank statements
- Vehicle quotation and registration or insurance documents