Car Loan 

Kerala Gramin Bank Car Loan, Two Wheeler Vehicle Loan Interest Rates 2024

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Kerala Gramin Bank offers vehicles loans for the purchase of New Car, Two Wheeler, Three Wheeler, Jeeps, Small Vans etc at lowest interest rates with higher repayment periods.

  • For purchase of all types of Cars, Jeeps, Small Vans, two wheelers, three wheelers etc.
  • Both brand new and pre-owned vehicles except two wheelers.
  • In the case of pre-owned vehicles, the age of the vehicles should not be more than 2 years.
  • Pre-owned Two Wheelers are not eligible under the scheme

Kerala Gramin Bank Eligibility

  • Individuals including NRIs/ Firms/ Companies, who are having sufficient income to meet the repayment commitments
  • Income of the spouse or children may also can be taken into account for calculating the eligible amount of loan

Kerala Gramin Bank Vehicle Loan Security

  • Upto 5 lakhs
  • Hypothecation of Vehicle
    & Guarantee / Co obligation of a credit worthy person
    Above 5 lakhs
  • Hypothecation of Vehicle
  • Equitable Mortgage of landed property of value not less than 150% of loan amount / Equivalent security of Approved securities.

Kerala Gramin Bank Vehicle Loan Repayment Period

Brand New Vehicle

  • Two Wheeler : Within 60 months in EMI
  • Four Wheeler : Within 84 months in EMI

Pre-owned Vehicle

  • To be repaid within a maximum period of 60 months or up to the appraised economic life of the vehicle as per the valuation cum road worthiness certificate, whichever is earlier.

Kerala Gramin Bank Vehicle Loan Interest Rates 2024

ROAD AND WATER TRANSPORTS 11.60%
PERSONAL VEHICLE LOAN Irrespective of Amount 8.75%, (*concession @0.25% on applicable RoI may be given if EM security with sufficient coverage (150%) or Fixed Deposit security (100%) is available)
PVLPT 8.60%, (*concession @0.25% on applicable RoI may be given if EM security with sufficient coverage (150%) or Fixed Deposit security (100%) is available)
PERSONAL VEHICLE LOAN – Premium Irrespective of Amount 8.25%, (*concession @0.25% on applicable RoI may be given if EM security with sufficient coverage (150%) or Fixed Deposit security (100%) is available)

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