Maha Super Car Loan Scheme
- No Processing Charges (Waived up to 28.02.2021).
- 0.25 % Concession in ROI for Corporate salary account Holder and Existing Housing Loan borrower
- Maximum Funding 90%.
- Interest charged on daily reducing Balance.
- No Pre-Payment / Pre-closure / Part payment Charges.
- Quick turnaround time.
Purchase of New four Wheeler i.e. Car, Jeep, Multi Utility Vehicles (MUVs), SUV etc. for personal use. (i.e. not for hiring/ferrying passengers) for individuals (18 years and above)/ Companies and Corporate entities
Individual salaried employees/ self-employed professionals/Businessman / Agriculturist /Companies and Corporate entities.
Eligible Quantum of Loan
Up to 36 times of Net Monthly Salary/Pension on the basis of Last Salary/Pension Drawn, subject to ‘Deduction Norms’
Minimum Annual Income
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 Businessmen: 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
inimum 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.
For Existing/New Housing Loan Borrowers and Corporate Salary account holders- Minimum 10% of Cost of Vehicle (i.e. Ex show room price + RTO charges + insurance charges)
For Others - Minimum 15% of Cost of Vehicle (i.e. Ex show room price + RTO charges + insurance charges)
For Corporate Clients (Firms/Companies)- Minimum 20% of Cost of the Vehicle (i.e. Ex show room price + RTO charges + insurance charges)
Max. 84 Months
Rate of Interest
Hypothecation Of Vehicle purchased
0.25 % of the loan amount (Subject to max. of Rs. 15,000/-)