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Car Loan

Car Loan

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.*
    *Conditions Apply

Margin for Car Loan:

  • New vehicle: 15 %.
  • Old vehicle: 25%- 30%.

Rate of Interest for Car Loan:

The above information is subject to terms and conditions.For more details, please contact the nearest Branch.