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Auto Loans |
The most flexible Auto Loan in the market. Pay bulk amounts as and when you have surplus cash
No pre-payment penalties.
Eligibility
Salaried, self-employed and companies, including pvt firms.
Terms of the Loan
Loan Amount
Minimum - Rs 50,000/-
Maximum - Rs 10,00,000/- (as per LTV for each model)
Tenure
Minimum - 12 months
Maximum - 60 months
LTV
Upto 90% max (on select models)
LTV calculation on invoice price only.
Interest Rates
As applicable from time to time.
Service Charges
As applicable from time to time.
Other Eligibility Criteria
Income
Salaried - Minimum Net Income of Rs 75,000 per year.
Self Employed – Minimum ITR Rs. 1,00,000.
Age
Minimum entry Age for all categories – 21 years.
Maximum exit Age Salaried - 60 years.
Maximum exit Age Self Employed – 65 years.
Experience
Salaried employees must be confirmed in current employment & have a minimum of 1 year.
Post qualification experience.
Self employed – minimum 3 years of experience.
Residence
Residence stability for 2 years.
Documentation
Income Proof
Salaried : Latest 3 months Salary slip showing all deductions and Form 16 of the last FY.
Self-employed: Copy of Income Tax return (+) Computation of Income (+) Balance Sheet (+) P & L account for last 2 years.
Residence Proof
Passport Copy / Voter ID/Utility Bill /Ration Card.
Proof of Identity
Latest photograph or copy of Driving license / I.T. Pancard / Election ID card.
Bank Statement
Copy of bank statement for the last 6 months where his / her salary is getting credited.
Note :
1. All loans are at the sole discretion of Centurion Bank of Punjab Ltd.
2. Repayment of Loan through Post Dated Cheques (PDCs).
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