KBL Xpress Car Loan
Digital processing and Instant In-principle Sanction.
Eligibility Criteria for Car Loan:
- An individual who is an income tax assessee.
- Agriculturists owning agricultural properties.
- A company / firm/ trust/ association/societies availing the loan in its name or in the name of its executive / managing director / managing partner/managing trustee/president/secretory.
- NRIs are also eligible.
- Minimum age limit : 18 years.
Purpose of Car Loan:
- Purchase of new vehicle / second hand vehicle not older than 5 years from the date of its registration.
Amount of Car Loan:
- Up to 85% of on road price including cost of vehicle + Road tax + Insurance + Registration charges, subject to a maximum of ₹75 Lakhs for new vehicle.
- Maximum of ₹20 lakh in the case of second hand/used vehicle.
Period of Car Loan:
- Maximum up to 84 months for new vehicle and 34 months for second hand vehicle.
Security for Car Loan:
- Hypothecation of vehicle to be purchased.
- Third party co-obligation / guarantee in the case of individual.*
Margin for Car Loan:
- New vehicle: 15 %.
- Old vehicle: 25%- 30%.
Rate of Interest for Car Loan:
- View Latest Rate of Interest.
- View Service Charges.
- Upfront charges will be collected (wherever applicable) towards legal, valuation, BIR etc.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch.
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