Purchase of a New Car/ Electric car


  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: 40 times of   Avg Net Monthly Salary 
     Businessmen: 4 times of Avg Gross Cash accruals
     or latest audited gross cash accrual with justification
2. Upto 100% finance on ex-showroom cost of the vehicle for loan upto Rs.10 lakh
Loan above Rs.10 lakh - 90% of Ex- showroom cost, insurance & registration charges.

1 or 2 / 3, whichever is lower


10% of on-road cost

Repayment Period:

Salaried & Businessmen: Maximum of 7 years.

Takeover of loans:

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

  1. Age of the car not to exceed 3 years
  2. Total repayment period including other bank should not exceed 7 years

Rate of Interest (Fixed):

Shub labh Festive offer - W.E.F 1st December 2021



Up to 3 years


Above 3 years to 5 years


5 years to 7 years


Processing Fees: 

A flat discount of 25% on Processing Fees. - 7th October to 31st December 2021
  1. For Loans upto Rs.10 Lakh - 0.50% of loan amount maximum Rs.3000/-
  2. For loans above Rs.10 Lakh - Rs.5000/- + GST


As per extant shareholding norms.


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