Warana Car loan
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Achieve Your Dreams Quickly Add pace to it, through our Vehicle Loan.
 Car Loan is available for :
- Purchase of New / Old Car
- Commercial Vehicles
- Two Wheelers
TERMS AND CONDITION
Eligibility
Salaried persons, professionals and business people, with qualifying income and required repayment capacity. Reputed firms and corporates are also eligible.
Minimum Employment
- For Service Persons Total – 3 yrs
- Current – 2 yrs
- Others – 3 yrs
 Minimum Annual Income
- 4W - Rs.3.50 lac for salaried, Rs. 2.00 lac for others 2W – Rs. 2.00 lac (Income of spouse can be included if joins as Co-applicant)
 Maximum amount
- 4W – Rs.15.00 lac
- 2W – Rs.0.50 lac
- Salaried - 18 times Gross Pay
- Professionals - 1.50 times of average annual Income as per their last three Balance - Sheet/ P & L account or last years income whichever is less.
Security
- Hyp. of Vehicle
Guarantor
- Two Guarantor acceptable to Bank
Margin
- 15% for new vehicle.
- 50% for second hand 4 wheeler up to 3 yrs
Repayment
- Repayment is done through Equated Monthly Installments (EMIs) comprising both principal and interest. Servicing of EMI would be through
- Post Dated Cheques (PDCs)
- Standing Instruction
- ECS 4W(New) 84 Months
- Â 2W 60 Months
- Â 2nd 4W 60 Months
Insurance
- Compulsory