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| COMPARE : CAR LOANS |
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| Introduction |
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| Federal bank provides personal vehicle loan for new as well as used vehicles. Bank gives loan amount up to 90% of vehicle price. The bank gives loan up to Rs 50 lakh and Rs 200 lakh for individuals and corporates respectively. For new vehicles, the loan is given for a period of up to 60 months |
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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 |
For Individuals Rs 250 Lakhs
For Corporate/Group loans Rs750 Lakhs
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For Individuals Rs 250 Lakhs
For Corporate/Group loans Rs750 Lakhs
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| Tenure |
Min. - 36 months.
Max. - 60 months.
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Min. - 12 months.
Max. - 60 months.
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| Interest Rate |
10.9 % |
10.9 % |
| 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 |
| Late Payment Penalty |
2 % |
2 % |
| Pre-Payment Charges |
2 % |
2 % |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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| Comment on Charges |
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Depreciation using Straight Line Method @ 15% for the first year and @ 10% for subsequent years.
Part of the year shall be counted as one year. |
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Show All Auto Loans
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