To make available Loan for purchase of car by proposed car buyers on attractive terms.
Minimum net monthly salary / pension/ income - Rs.20000/-. Income of Parent(s)/Spouse/ Earning Children can be added for determining loan amount/eligibility. However, out of above income of only one person can be added and he/she will stand as a co-borrower.
For individuals/Proprietorship concerns: Rs.25 lakh or 25 times of Net Monthly Salary / Pension/ Income, whichever is lower. Loans for higher amount may be considered on merits of the case. For Business Concerns (Corporate or Non-Corporate): No ceiling of loan amount (for one or more vehicles).
For New Vehicle: 15% of on-road price inclusive of one time road tax & insurance. For Old Vehicles: 30% of the value of the vehicle.
Vehicle purchased to be hypothecated to the bank.
Third Party guarantee/ Collateral Security acceptable to the Bank. (May be waived by the Sanctioning Authority on merits of individual case)
Starts @8.55% *
*Conditions Apply
Processing Charges/ Upfront Fee/Documentation Charges:
As per bank’s guidelines.
For purchase of new Two wheelers viz.: Scooter(s), Motor cycle(s), Scooterrete (s), Moped(s), (subject to Registration of vehicle with RTO).
Existing DBGB customers with at least 6 months satisfactory transactional record OR new customer with satisfactory track record of last one year with other Bank/FI in the age group of 18 years and 60 years holding a valid driving license. Salaried individuals drawing salary from our bank or under check off facility from the employer. Students, 18 years and above till gainfully employed, with salaried parent as co-borrower drawing salary from our bank; Business concerns (Corporate or non –corporate)
| Where salary is being disbursed through the concerned bank branch and/or Check off facility. | 10% |
| Business concerns | 25% |
Hypothecation of 2 wheeler financed from bank loan Guarantee acceptable to bank as per guidelines
Starts @10.80% *
* Conditions apply
(Changeable as per RBI/bank’s guidelines time to time)
