| CATEGORY | Car Name (Best Selling as per Nov’15) | Price (Rs.) | Eligibility for loan | Loan taken | EMI (Rs.) | Interest Rate | Tenure | Down Payment | Processing Fees | Cash Discount | Freebies | Documents required |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MPV | Maruti Ertiga | 980,000 | 21 to 60 years for salaried class borrowers with a minimum one year in employment and 21 – 65 years for self-employed borrowers. | 490,000 | 10,910 | 9.80% to 12.50% | 1 to 7 years | 10% of Ex- Showroom Price | Rs. 0 to Rs. 10,000 | Rs. 20,000 Exchange discount | No Freebies | The application has to accompany the following documents: a)Two Passport size photographs. b)Quotation from the dealer for the car to be purchased / copy of Sale Agreement with the seller in case of a used car. c)Valuation Certificate from approved valuer in case of a used car. d)Proof of identification (Not required in case of existing account holders) – Copy of Passport, Identity Card issued by the employer, Voter Id Card, PAN Card etc., e)Proof of address – Copy of a utility bill (electricity, water, telephone, gas etc.) in borrower’s name at the given address, Voter Id Card, letter from employer, Credit Card statement etc. f)Proof of income : Latest salary Slip showing all deductions and g)Copy of Form 16 issued by the employer for past one/ two years or copies of income tax returns filed. h)Statement of Bank Account for last 12/24 months. i)Post dated cheques for the monthly installments of the loan |
| SEDAN | Honda Amaze | 870,000 | 21 to 60 years for salaried class borrowers with a minimum one year in employment and 21 – 65 years for self-employed borrowers. | 435,000 | 9,686 | 9.80% to 12.50% | 1 to 7 years | 10% of Ex- Showroom Price | Rs. 0 to Rs. 10,000 | Rs. 20,000 Exchange bonus | 1st year insurance | The application has to accompany the following documents: a)Two Passport size photographs. b)Quotation from the dealer for the car to be purchased / copy of Sale Agreement with the seller in case of a used car. c)Valuation Certificate from approved valuer in case of a used car. d)Proof of identification (Not required in case of existing account holders) – Copy of Passport, Identity Card issued by the employer, Voter Id Card, PAN Card etc., e)Proof of address – Copy of a utility bill (electricity, water, telephone, gas etc.) in borrower’s name at the given address, Voter Id Card, letter from employer, Credit Card statement etc. f)Proof of income : Latest salary Slip showing all deductions and g)Copy of Form 16 issued by the employer for past one/ two years or copies of income tax returns filed. h)Statement of Bank Account for last 12/24 months. i)Post dated cheques for the monthly installments of the loan |
| HATCHBACK | Ford Figo | 741,000 | 21 to 60 years for salaried class borrowers with a minimum one year in employment and 21 – 65 years for self-employed borrowers. | 370,500 | 8,250 | 9.80% to 12.50% | 1 to 7 years | 10% of Ex- Showroom Price | Rs. 0 to Rs. 10,000 | Upto Rs. 25,000 Exchange Bonus | 1st year insurance, extended warranty | The application has to accompany the following documents: a)Two Passport size photographs. b)Quotation from the dealer for the car to be purchased / copy of Sale Agreement with the seller in case of a used car. c)Valuation Certificate from approved valuer in case of a used car. d)Proof of identification (Not required in case of existing account holders) – Copy of Passport, Identity Card issued by the employer, Voter Id Card, PAN Card etc., e)Proof of address – Copy of a utility bill (electricity, water, telephone, gas etc.) in borrower’s name at the given address, Voter Id Card, letter from employer, Credit Card statement etc. f)Proof of income : Latest salary Slip showing all deductions and g)Copy of Form 16 issued by the employer for past one/ two years or copies of income tax returns filed. h)Statement of Bank Account for last 12/24 months. i)Post dated cheques for the monthly installments of the loan |
| EXECUTIVE SEDAN | Toyota Corolla | 1,830,000 | 21 to 60 years for salaried class borrowers with a minimum one year in employment and 21 – 65 years for self-employed borrowers. | 915,000 | 20,373 | 9.80% to 12.50% | 1 to 7 years | 10% of Ex- Showroom Price | Rs. 0 to Rs. 10,000 | No Discount Schemes | Rs. 50,000 worth Accessories Package | The application has to accompany the following documents: a)Two Passport size photographs. b)Quotation from the dealer for the car to be purchased / copy of Sale Agreement with the seller in case of a used car. c)Valuation Certificate from approved valuer in case of a used car. d)Proof of identification (Not required in case of existing account holders) – Copy of Passport, Identity Card issued by the employer, Voter Id Card, PAN Card etc., e)Proof of address – Copy of a utility bill (electricity, water, telephone, gas etc.) in borrower’s name at the given address, Voter Id Card, letter from employer, Credit Card statement etc. f)Proof of income : Latest salary Slip showing all deductions and g)Copy of Form 16 issued by the employer for past one/ two years or copies of income tax returns filed. h)Statement of Bank Account for last 12/24 months. i)Post dated cheques for the monthly installments of the loan |
| SUV | Hyundai Creta | 1,450,000 | 21 to 60 years for salaried class borrowers with a minimum one year in employment and 21 – 65 years for self-employed borrowers. | 725,000 | 16,143 | 9.80% to 12.50% | 1 to 7 years | 10% of Ex- Showroom Price | Rs. 0 to Rs. 10,000 | No Discount Schemes | No Freebies (Waiting Period of 4 weeks to 12 weeks) | The application has to accompany the following documents: a)Two Passport size photographs. b)Quotation from the dealer for the car to be purchased / copy of Sale Agreement with the seller in case of a used car. c)Valuation Certificate from approved valuer in case of a used car. d)Proof of identification (Not required in case of existing account holders) – Copy of Passport, Identity Card issued by the employer, Voter Id Card, PAN Card etc., e)Proof of address – Copy of a utility bill (electricity, water, telephone, gas etc.) in borrower’s name at the given address, Voter Id Card, letter from employer, Credit Card statement etc. f)Proof of income : Latest salary Slip showing all deductions and g)Copy of Form 16 issued by the employer for past one/ two years or copies of income tax returns filed. h)Statement of Bank Account for last 12/24 months. i)Post dated cheques for the monthly installments of the loan |
| Sr. No. | Assumption |
|---|---|
| 1 | Top end model is considered in each category. |
| 2 | For calculation of EMI, tenure taken as 5 years & bank interest rate is assumed to be 12.50%. |
| 3 | Loan taken is 50% of the car price. |
| 4 | City assumed is Mumbai. |
Source:www.dilzer.net