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| COMPARE : CAR LOANS |
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| Introduction |
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| Allahabad bank offers finance for buying new vehicle for personal use only. Loan is also available for purchasing pre-owned vehicle which is not more than 3 years old and to be used for personal purpose. The maximum loan amount limit is up to 2 times of Net Annual Income / Net Annual Salary. Bank has set a margin of 15% of the cost of vehicle, in case of new cars while the margin for an old vehicle has been set at 85% of the "Agreed Purchase Price" or 60% of the Valuation of the Vehicle, whichever is lower. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
Min. - Rs 50000
Max. - Rs 90
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Min. - Rs 50000
Max. - Rs 85
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| Tenure |
Min. - 12 Yrs.
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Min. - 12 Yrs.
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| Interest Rate |
10.5 % |
11.5 % |
| Time to Process Loan |
7 days |
7 days |
| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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