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Car Loan

Accelerate your dreams with Dr. Babasaheb Ambedkar Sahakari Bank Ltd. Car Loan – your key to owning a new or used car with ease and affordability.

Features & Benefits

  • Interest charged on daily reducing balance
  • No pre-payment charges for repayment from own sources
  • Attractive and competitive interest rates
  • Simple and minimal documentation process
  • Flexible repayment options – ECS / Post-dated Cheques / Standing Instructions
  • Quick and hassle-free loan approvals
  • Optional insurance cover for vehicle at affordable premium
  • FastTag availability for toll convenience

Purpose

  • For purchase of new or pre-owned (second-hand) cars

Eligibility

  • Salaried Individuals
  • Professionals
  • Business Owners

Quantum of Loan

  • New Car: Up to ₹150.00 Lakhs (90% of invoice value excluding accessories)
  • Second-Hand Car: Up to ₹100.00 Lakhs (70% of purchase/sale agreement value or valuation report, whichever is lower)

Margin

  • Nil margin for professionals (new car)
  • 10% margin for new car
  • 30% margin for second-hand car (based on valuation)

Rate of Interest

  • Starts from 8.45% p.a. onwards

Documentation: Refer Basic Documents - Retail Loan

Additional Documents Required

  • Proforma invoice from an authorised car dealer
  • Proof of margin money payment

Security

  • Hypothecation of the vehicle being financed

Repayment Tenure

  • New Car – Up to 7 years
  • Second-Hand Car – Up to 5 years

*Conditions Apply

To avail this Car Loan, visit your nearest Dr. Babasaheb Ambedkar Sahakari Bank Ltd. branch or CALL US ON: 0 https://asbnashik.com/contact

Available on working days only.

Disclaimer

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