Secured loans
Vehicle Loan
A loan to buy a new or used vehicle, for personal or business use.
Interest rate
13.00%
per year
- Interest rate
- 13%*
- Maximum loan
- ₹50,00,000
- Maximum period
- 84 months (7 years)
- Security
- The vehicle (recorded on RC book)
Members only
Rates can change
Get a loan quickly to buy a vehicle for yourself or your business. Borrow up to ₹50 lakh and repay over up to 7 years. The vehicle stays pledged to the society, and this is recorded in its RC book.
Who is this for?
- Members buying a car or two-wheeler
- People buying a tempo, truck or other commercial vehicle for business
- People buying a used vehicle
How does it work?
- Get a quotation from an authorised dealer (for a new vehicle).
- Submit the loan application with the required documents at your branch and meet the branch officer.
- Deposit your own share of the vehicle price (margin money) with the society, and get the society's hypothecation recorded on the RC book at the RTO.
- Once the loan is approved, you receive the money. Then pay monthly instalments (EMI) over the agreed period.
What can you use it for?
- Buying a new vehicle
- Buying a used vehicle
- For personal or commercial use
Features & benefits
- Loan available quickly to buy a vehicle for personal or commercial use.
- Loan limit up to ₹50 lakh.
- Repay over up to 84 months (7 years).
- Interest rate 13%*.
Who can apply
- You must be a member of the society.
- You should have regular transactions in your savings or daily deposit account. This helps the society check your creditworthiness (how reliably you can repay).
- At the time of disbursement, you must deposit margin money with the society (the part of the vehicle price you pay yourself).
- The society's hypothecation (charge on the vehicle) must be recorded on the vehicle's RC book at the RTO.
- All related RTO forms must be completed.
Documents you need
Keep this list ready
- Photos of the borrower and the guarantor on the loan application.
- Salary slips of the borrower and the guarantor, and their Income Tax Returns (ITR) for the last 3 years, certified by a CA.
- Identity proof and address proof of the borrower and the guarantor.
- Copies of bank statements / passbooks of the borrower and the guarantor for the last 6 months.
- For a new vehicle: quotation from an authorised dealer.
- Booking receipt of the new vehicle.
Rate table
Up to 84 months (7 years)
13.00%
Maximum amount₹50,00,000
* Interest rates can change from time to time. · Rates as published on 15 September 2026
Work it out yourself
Enter the amount, rate and period to instantly see what you will receive or what your instalment will be.
= 7 years
Monthly instalment (EMI)
₹9,096
13.00% · 7 years
- Loan amount
- ₹5,00,000
- Total interest
- ₹2,64,062
- Total repayment
- ₹7,64,062
This is an estimate (interest is worked out monthly on the reducing balance). The actual EMI may differ slightly as per the society's rules. Please confirm at your branch.
Year-by-year repayment
| year | Principal paid | Interest paid | Balance |
|---|---|---|---|
| 1 | ₹46,880 | ₹62,272 | ₹4,53,120 |
| 2 | ₹53,351 | ₹55,801 | ₹3,99,769 |
| 3 | ₹60,715 | ₹48,437 | ₹3,39,054 |
| 4 | ₹69,096 | ₹40,056 | ₹2,69,959 |
| 5 | ₹78,633 | ₹30,519 | ₹1,91,326 |
| 6 | ₹89,487 | ₹19,665 | ₹1,01,839 |
| 7 | ₹1,01,839 | ₹7,313 | ₹0 |
Vehicle Loan
Enquiry form
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