4 Wheeler loan (Passenger vehicle)

Owning a Car has never been so easy & delightful. With our Digital Loan sanction process & customer centric product features, KVB Car Loan has made it possible.

10%

For New Cars

40%

For Old Cars (not Older than 5 Years)

Upto 7 Years

Repayment Period

Features and Benefits

It can be availed by all resident Individuals (except those engaged in a car hiring business).
The loan is for the purchase of a new or second-hand car (not older than 5 years) which is for business or personal use, except for car hire.

Charges and Limits

Margin	10% - For New Cars 40% - For Old Cars (not Older than 5 Years).
Maximum Repayment Tenor	84 Months (New Vehicles) - EMI. 60 Months (Second-hand Vehicles) - EMI.
Primary Security	Hypothecation of vehicle purchased out of bank finance.
Collateral Security	Optional (NSC / KVP / LIC Policies, Bank Deposits, Land & Building etc.,).
Guarantee	A suitable Guarantor with sufficient net worth acceptable to the Bank (preferably spouse or family members or friends).
Insurance Coverage for the Borrower	Available to the extent of the loan amount with BAGIC, payable by the borrower. (as per the choice of the borrower).
Processing Charges
Loan value up to Rs. 10 Lakhs	Rs. 3,000/-
Loan value above Rs. 10 Lakhs	Rs. 7,500/-
Other Terms & Conditions	The take home pay after deducting the proposed loan installments shall be at least 25% of gross pay. Payment directly to the seller by way of DD / NEFT / RTGS / Account Credit etc.,

Interest Rate

To check all Interest rate: Click here