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Features : Car Loan For NRIs & Residents Persons Eligible • Salaried and other regular income earners with a minimum of 2 years standing/ experience in their line of activity • Spouse of NRIs, based on the monthly income of the NRI. • Minimum NMI Rs. 12,000/-
Year : 2012
Country : India
State : Kerala
District : all
Fuel Type : Diesel
Transmission : Manual
Variant : ASK
Reg No. : KL USED
KM Run : USED
Price : Rs 1699/Lac- LOWEST EMI /-
 Car Loan 

For NRIs & Residents

Persons Eligible

  • Salaried and other regular income earners with a minimum of 2 years standing/ experience in their line of activity
  • Spouse of NRIs, based on the monthly income of the NRI.
  • Minimum NMI Rs. 12,000/-

Amount of Loan

Eligible Amount Maximum

New Cars/Jeeps 30 times net monthly income Rs.30 lakhs

Second hand cars 30 times net monthly income

(vehicles upto 2 years old) Rs.4 lakhs

(vehicles 2 to 5 years old) Rs. 3 lakhs

* Margin Take over of Car loans (from other banks) can be considered.

**Reimbursement of expenses incurred for purchase of new cars by way of  Hypothecation is also considered.

Margin

Up to Rs.20 lakhs - 15% of the road cost of the new car to be purchased (invoice cost+life tax+Insurance)

Above Rs.20 lakhs - not less than 25%

25% for second hand cars upto 2 years old

40% for second hand cars above 2 years upto 5 years old

Repayment

New Cars 84 equated monthly installments

Second hand cars 60 equated monthly installments

Security

Primary : Hypothecation of the vehicle purchased out of bank finance.

Collateral (for loans above Rs. 50000/-) :

  • Personal guarantee of one or two persons of sufficient worth.

Processing Charges  0.50% of the loan amount subject to a minimum of Rs.500/- and maximum Rs.10000/-

Insurance Comprehensive Insurance is compulsory for all loans for purchase of vehicle.

Papers to be submitted to the Bank

  • Application form (in duplicate)
  • Passport size photos (2 nos)
  • Proof of income
  • A proforma invoice of the vehicle proposed to be purchased. Documents required for used cars, please contact nearest branch
  • Details of guarantors

 

    a. In the case of salaried persons :

  1. Salary Certificate showing deductions
  2. Authorisation to deduct monthly installments from the salary of the employee for credit of the loan account where check-off facility is available.

    b. In the case of self employed/professional/businessmen :

  • Statement of computation of taxable income

 

 

AUTHORISED DEALER / SELLER CONTACT DETAILS
*Authorised Dealer's vehicles prices, photos & details on this page Posted &verified by caro india executive.
*Specifications & features are subject to change with out notice.
*On road price of vehicles may change as per the Time & location of Dealers in India.
*caro India is not responsible for any form of payments by transfer/cheque/DD/cash/western money inside & out  side India to sell/buy any products posted in this web site.


   
 Name : kannan
 Address : executive , ernakulam dist ,kerala
 Email : alwayssell@Yahoo.com
 Phone : 9605082811
 
   

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