Maha Super Green Car Loan Scheme - Electric Car

1. For Salaried Persons/ Pensioners: Up to 48 times of Net Monthly

Salary/Pension on the basis of Last Salary/Pension Drawn, subject to ‘Deduction Norms’.

2. For Self Employed Professionals*: Up to 4 times Average annual income based on last 2 years ITRs or 4 times of Gross Taxable income as per latest ITR (whichever is lower), subject to ‘Deduction Norms’ (Total income would mean Cash Accruals).

3. For Other Individuals (Businessman & Agriculturist): Up to 4 times Average annual income based on   3 years ITRs or 4 times of Gross Taxable income as per latest ITR (whichever is lower), subject to ‘Deduction Norms’ (Total income would mean Cash Accruals).

4. For Corporate Clients (Firms/Companies): Up to 4 times of Average annual income based on 3 years ITRs or Gross Taxable income as per latest ITR (whichever is lower), subject to ‘Deduction Norms’ and availability of DSCR more than 1.5

1. For Salaried / Pensioners: Rs. 3.00 lakh (last year income) – Minimum past 2 year ITR/Form 16 from the Employer is Mandatory.
2. For Self Employed Professionals: Rs.4.00 lakh (last year income) Minimum past 2 year ITR with supporting documents are mandatory.
3. For Businessman: Rs.4.00 lakh (last year income) - Minimum past 3 year ITR with supporting documents are mandatory.
4. For Persons engaged in Agriculture & Allied activities having ascertainable Minimum annual income of Rs.4.00 lakh.
5. For Corporate Clients (Firms/ Companies) : Rs. 4.00 lakh (last year income) - Minimum past 2 year ITR with supporting documents are mandatory.

1. For Existing/New Housing Loan Borrowers and Corporate Salary account holders - Minimum 5 % of Cost of Vehicle (i.e. Ex-show room price + RTO charges + insurance charges).
2. For Others Individuals (Businessman & Agriculturist):  - Minimum 10% of Cost of Vehicle (i.e. Ex -show room price + RTO charges + insurance charges)
3. For Corporate Clients (Firms/Companies)- Minimum 10% of (i.e. Ex-showroom price + RTO charges + insurance charges)

• Not to exceed 65% of the Gross Income including Proposed EMI.
• Not to exceed 70% of the Gross Income including proposed EMI for existing Housing Loan Borrowers under standard category for last 2 years.

Security

Primary Security

• Hypothecation of vehicle purchased.
• Our Hypothecation charge should be registered with Regional Transport Office Authorities

Collateral Security

• For Loan up to Rs.25.00 Lakhs-Nil
• For Loan above Rs.25.00 Lakhs-with tangible security of minimum 50% value of Loan amount in favour of Bank.

Vehicle shall be registered with green number plates, and Hypothecation charge should be created.