Mahalaxmi Auto Loan

Personal Banking (Loans)

Mahalaxmi Vehicle Loan is the loan product that is introduced to meet the financing requirement of customers for the purchase of brand new or second hand private vehicles.

 

Loan Tenure

In Case of Brand New Vehicle: Maximum 5 years

In Case of Used Vehicle: Maximum 4 years

(*The age of the vehicle should not be older than 8 years from its registration date at the time of the maturity of the loan)

Bank Finance

  • Petrol Diesel Vehicle: Up to 50% of the VAT bill
  • Electric Vehicle (personal use): Up to 80% of the VAT bill

Purpose

 

  • Purchase of new Red-Plated Private Vehicle
  • Purchase of new Red-Plated Business Use Vehicle
  • Purchase of Second Hand/Used Vehicle (Red plated Private Vehicles only)
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