GREEN CAR LOAN: FOR ELECTRIC CARS

Age 21-67 years. (For sanction of loan)

Repayment Period

Minimum 3 Years; Maximum 8 Years

Rate of Interest: Fixed

Further concession of 20 BPs in applicable rate of interest for normal car loan across the category of customers (Please refer Interest rate chart)

Processing Fees

Waived up to 31.12.2019

Margin

Upto 90% of On Road

 

Category Income Criteria Maximum Loan Amount

Regular employees of Central Public Sector Enterprises (Maharana’s/ Navratnas/ Miniratnas). Defence Salary package(DSP), Para Military salary package (PMSP) & Indian Coastal Guard Package(IGSP) Customers and Short Commissioned Officers of various Defence establishments

Net Annual Income of applicant and/or co-applicant if any, together should be a minimum of Rs. 3,00,000/-

48 times of the Net Monthly Income

Professionals, self-employed, businessmen, proprietary/partnership firms who are income tax assesses.

Net Profit or Gross Taxable income of Rs. 3,00,000/- p.a.(income of co-applicant can be clubbed together)

4 times Net Profit or Gross Taxable income as per ITR after adding back depreciation and repayment of all existing loans

Person engaged in agricultural and allied activities.

Net Annual income of applicant and/or co applicant together should be a minimum of Rs. 4,00,000/-

3 times of Net Annual Income

Documents Required

Following documents along with the completed application form

Salaried Non-Salaried/ Professional/Businessmen Person engaged in agricultural and allied activities.

Statement of bank account for last 6 months. (Submission of Bank Account Statement is waived for our Salary Package customers who are maintaining Salary account with us

Statement of bank account for last 6 months.

 

Statement of bank account for last 6 months.

2 passport size photog

2 passport size photog

2 passport size photog

Proof of Identity

Proof of Identity

Proof of Identity

Address Proof

Address Proof

Address Proof

Income Proof: Latest Salary Slip, Form 16

Income Proof: ITR for last 2 years

Direct agricultural activity (crop cultivation):
Khasra/Chitta Adangal (showing cropping pattern) Patta/Khatoni (showing land holding) with photograph. All land should be on free hold basis and ownership proof to be in the name of borrower.

I.T. Returns or Form 16 for the last 2 years. (Waived for our Salary Package customers who are maintaining their salary account with the Bank for minimum 12 months.)

I.T. Returns or Form 16 for the last 2 years.

Allied agricultural activity (like Dairy, Poultry, Plantation/ Horticulture)
Documentary proof of running of the activities to be provided.

 

Audited Balance sheet, P&L statement for 2 years, Shop & establishment act certificate / sales tax certificate / SSI registered certificate / copy of partnership.

 

Proof of Identity : - (Copy of any one) Passport/ PAN Card/ Voters ID card/ Driving License etc.

Address Proof :- (Copy of any one) Ration card/Driving License/Voters ID card/Passport /Telephone Bill/ Electricity bill/Life Insurance policy