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Maha Super Green Car Loan Scheme - Electric Car
Electric vehicles are now becoming popular amongst the users under personal segment. Also it is the need of the hour to curb the growing menace of rising pollution level and global warming. There are a number of great benefits to electric vehicles (EVs) over conventional petrol/ diesel cars such as: -
- Cheaper to run (Low fuel costs).
- Better for the environment: Eco-friendly
- Health benefits
- Safety improvements
- Our energy security
Features
- Maximum Funding upto 100% of On road price
- No Processing Charges
- 0.25 % Concession in ROI from Existing Maha Super Car Loan scheme.
- Finance available to corporate clients (Firms/Companies).
- Interest charged on daily reducing Balance.
- No Pre-Payment / Pre-closure / Part payment Charges.
- Quick turnaround time.
S.No | Particulars | Scheme guidelines | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Purpose | For purchase of new Electric Passenger cars, Multi Utility Vehicles (MUVs) and Sports Utility Vehicles (SUVs) etc. for personal use. (i.e. not for hiring/ferrying passengers) | ||||||||||
| 2 | Eligibility | Eligible entities:
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| 3 | Eligible Quantum of Loan | Maximum loan amount will be assessed based on the permissible Deduction norms Maximum Loan Limit
| ||||||||||
| 4 | Minimum Annual Income |
| ||||||||||
| 5 | Margin | A) For existing Housing Loan Borrowers: NIL Margin On Road price of Vehicle B) For Others - Minimum 10% of On Road price of Vehicle On Road price shall include Ex Show Room Price, Road Tax, Cost of Registration and Insurance (One Year or Three Years), excluding cost of accessories | ||||||||||
| 6 | Repayment period | Max. 84 Months | ||||||||||
| 7 | Rate of Interest | |||||||||||
| 8 | Deduction | Salaried - Up to 80% of gross monthly Income Non Salaried - Up to 80% of gross Average Annual Income | ||||||||||
| 9 | Security | Hypothecation Of Vehicle purchased. | ||||||||||
| 10 | Processing Fee | Nil |
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