Car Loan

The car loan is made available to all employees for both public and private sector for whom contributions have been made to the National Savings Fund.

Scheme 1: New and Reconditioned Cars

Maximum amount of loan:

– Duty Free: 100% of car value

– Duty Paid: 80% of car value

1. New cars: Up to a maximum of Rs 1.5M*

2. Reconditioned cars (less than 4 years): Up to a maximum of Rs 1M*

3. Repayment Period: 6 years.

4. Guarantee: Lien on car.

Recash available (*conditions apply) for car loan less than 10 years.