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If you have dreamt of it, visit us to make it a reality. Own your dream car with the lowest car loan rates. Saraswat Bank offers the fastest car loan with zero inconvenience.

Eligibility:

  1. Salaried persons with minimum one year confirmed service.
  2. Other than salaried with regular source of income.

Loan Amount:

Maximum limit of Rs. 150 Lakh

Basis of Advance:

  1. Salaried: Max 30 times of Avg Net Monthly Salary. 
    Businessmen: Max 4 times of Avg Net Cash accruals.
    OR
  2. 90% of On-Road cost for Small car & 80% of On-Road cost for other than Small car, extended upto 100%

Whichever is lower

Repayment Period:

Salaried & Businessmen: Maximum of 7 years.

Takeover of loans:

Takeover of car loans from other Banks/Institutions, subject to norms.

Rate of Interest (Fixed):

Period

New Customers

Loyalty Customers

Up to 3 years

9.00%

8.90%

Above 3 years to 5 years

9.25%

9.10%

5 years to 7 years

10.00%

9.75%

Processing Fees:

  1. For loans upto Rs. 10 Lakh - 0.5% of loan amount maximum Rs. 3000/-
  2. For loans above Rs. 10 lakh - Rs. 5000/-

Shareholding:

2.50% of loan amount, Maximum Rs. 25000/-

Security:

Hypothecation of car.

Documents Required:

  1. Duly filled prescribed application form Photo Identity & Residence Proof of the Applicant.
  2. Income proof a) or b) as applicable.
    1. a) Salaried person: salary slips for last 3 months and bank statement for last 3 month or ITR/Form 16 of the latest one year.      
    2. b) Businessman/Professional/self-employed: last 3 years’ profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
  3. Proforma Invoice of the Authorized dealer.

Conditions Apply

Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555
Email: corporatecenter@saraswatbank.com