Vehicle Loan
Drive your dream vehicle home with our easy financing
About Vehicle Loan
Finance your dream vehicle with ease
Fingrowth Bank provides financial assistance for the purchase of new cars, jeeps, motorcycles, and other vehicles for personal use, professional use, or taxi purposes.
Whether you need a vehicle for daily commute, business operations, or commercial purposes, our vehicle loan offers competitive interest rates and flexible repayment options to make your purchase affordable.
Loan Purpose
Vehicle loan may be granted for purchase of new vehicles including:
Personal Use
Cars, jeeps, motorcycles for family use
Professional Use
Vehicles for business and professional needs
Taxi Purpose
Commercial vehicles for taxi operations
Commercial Vehicles
Trucks, tempos for business use
Eligibility
Individuals & Firms
For personal, professional, or taxi use
Age Limit
Minimum: 21 years
Maximum: 60 years (If above 60, co-borrower required)
Loan Amount & Terms
Financial Assistance
90%
Of vehicle cost including registration
Or Based On
30X Income
30 times of monthly income
Margin
10%
Borrower contribution required
Repayment Period
5-7 Years
60-84 months tenure
Disbursement Process
Initial Disbursement - 90%
90% of sanctioned loan disbursed directly to dealer after loan documents execution. Cheque/DD issued in dealer's name with forwarding letter.
Final Disbursement - 10%
Remaining 10% released after obtaining:
- Photocopy of invoice (verified with original)
- Payment receipts from dealer
- Registration Certificate with bank hypothecation
- Insurance Policy/Cover Note with bank endorsement
- Physical inspection of vehicle (chassis/engine number verification)
Security Requirements
Primary Security
Hypothecation of the vehicle being financed. Hypothecation must be endorsed on:
- Registration Certificate (RC)
- Insurance Policy
No Property Mortgage Required
As per updated policy, property mortgage is not required for vehicle loans.
Personal Guarantee
Third party personal guarantee of two persons having adequate net worth
Interest & Repayment
Interest Rate
As applicable from time to time based on prevailing market rates
Repayment
In 3-5 years (36-60 months) based on loan amount and repaying capacity. Monthly installments through PDCs
Processing Fee
Processing fee will be charged as per bank norms
Key Features
90% Financing
Finance up to 90% of vehicle cost
Quick Disbursement
90% paid directly to dealer
Flexible Tenure
3-5 years repayment period
Easy EMI
Affordable monthly installments
Ready to Buy Your Dream Vehicle?
Visit your nearest Fingrowth Bank branch to apply
Personal Loan Products
Vehicle Insurance
Comprehensive vehicle insurance is mandatory. The insurance policy must have hypothecation in favor of Fingrowth Bank.
Where to Apply?
Visit any branch in Jaipur, Kishangarh (Ajmer), Palanpur (Gujarat) or contact Head Office.