Get Domestic Vehicle Loan At 09.00% P.A.

Explore the most flexible, quick and cost-effective way to own your dream car

Looking to buy a new car? DDSCBL Bank’s New Car Loan offers car loans from Rs. 1 Lakh upto 100% on-road funding along with a host of benefits that include attractive interest rates, comfortable tenure, Axis eDGE Reward points, etc. Before applying for a car loan online, make sure to use the car loan calculator to find out your EMI. Apply for an DDSCBL Bank New Car Loan and make your dream of owning a car come true.

Domestic Vehicle Loan - Features & Benefits

Get high-value car loans

Avail funding from Rs. 1,00,000 upto 100% on-road funding for Up to 7 years*.

Attractive scheme for Electric vehicle funding

50 bps lower rate of interest on car loan for Electric Vehicles

Instant sanction

Pre-qualified customers can avail Instant sanction for their Car Loan.

Choose your tenure

Up to 7 years of tenure on select schemes.

Auto loans are available for every category of customer:
  • Salaried
  • Self Employed
  • Individuals
  • Proprietorships
  • Limited Liability Partnership firm
  • Trusts
  • Societies and Companies

Domestic Vehicle Loan - Eligibility & Documents Required

Salaried individuals who are eligible for a car loan
  • Minimum 21 years of age
  • Maximum 60 years of age at maturity (conditions apply)
  • Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models
  • Income eligibility based on latest salary slip and Form 16
  • Minimum of 1 year continuous employment
Self-employed individuals who are eligible for a car loan
  • Minimum 18 years of age
  • Maximum 65 years of age at loan maturity
  • Minimum Net Annual Business income of Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others
  • Income eligibility based on latest Income Tax Returns
  • Minimum 3 years of employment in the same line of business
Self-employed non-individuals who are eligible for a car loan
  • Minimum Net Annual Business income or Rs. 1,80,000 p.a. for selected models and Rs. 2,00,000 p.a. for others
  • Income eligibility based on latest 2 years Income Tax Returns and audited financials of 2 years along with computation of income
  • Minimum 3 years of employment in the same line of business
General Documents
  • Application Form
  • Proforma Invoice
  • Passport Size photograph of each applicant
  • Income Proof
  • Latest 3 months Bank Statement
  • KYC Documents

Interest Rates & Charges

For New Car Loans with tenure up to 36 months
1 Yr MCLR Spread over MCLR Effective ROI Range Reset Processing Fee Documentation Charges
7.35% 0.10% - 7.20% 7.45% - 14.50% No Reset Rs. 3500 – Rs. 5500 Rs. 500
For New Car Loans with tenure over 36 months
Effective ROI Range Processing Fee Documentation Charges
7.45% - 14.50% Rs. 3500 – Rs. 5500 Rs. 500

New Car Loan Charges

DDSCBL Bank’s New Car Loan offers a loan amount up to 100% of the on-road price of the car. The charges associated with the New Car Loan are completely transparent and kept to a minimum, which means you have to pay less upfront. Find out about the new car loan charges below.

Sr.no Type Charges
1 Cheque/ECS/NACH Bounce / Instrument Return Charges Rs. 339 per instance
2 Cheque / Instrument Swap Charges Rs. 500 per instance
3 Duplicate Statement Issuance Charges Rs. 250 per instance
4 Duplicate Repayment Schedule Issuance Charges Rs. 250 per instance
5 Duplicate No Dues Certificate / NOC Rs. 50 per instance
6 Penal Interest 2% per month
7 Loan Cancellation / Re-booking Rs. 550/- per case
8 Foreclosure/Part Payment Closure 5% of the Principal Outstanding
9 Stamp Duty At actuals
10 Issuance of Credit Report Rs. 50/- per instance
11 Documentation Charge Rs 500/-
12 Registration Certification Collection Charge Rs 200/ per instance

Note:
Goods and Services tax (GST) will be charged extra as per the applicable rates, on all the charges and fees (wherever GST is applicable).

Domestic Vehicle Loan EMI Calculator

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