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New service charges on various services w.e.f. 01.04.2023

Vehicle Finance

Maximum amount ₹30.00 lakhs

Tenure of the loan: 72 months

Rate of interest: 11% p.a

Processing charges: 0.5% of the loan amount (varies from ₹2,000 to ₹10,000)

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Vehicle Finance

A vehicle loan, also known as an auto loan or car loan, is a type of financial product offered by banks, credit unions, and other financial institutions that allows individuals to borrow money to purchase a vehicle, such as a car, truck, or motorcycle.

 

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Vehicles Loans
Vehicle Finance
Vehicle finance helps individuals and businesses acquire vehicles by spreading out the cost over time
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Two Wheeler Loan
Two-wheeler loans are offered by banks, credit unions, financial institutions, and even some vehicle dealerships.
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  • Own the car at the end of the loan term
  • Avail loan for new/used vehicles like Cars, Autos, passenger vehicles for own use/transport of passengers and light goods vehicless
  • Customizable loan amounts
  • Easy & Quick approvals.
  • Low interest rates
  • Low down payment
  • Professionals, salaried employees, self-employed, businessmen, proprietary/ partnership firms, Registered Institutions whose rules/bye- laws permit purchase of such vehicles.
  • Individual between the ages of 18 - 65 years.
  • loan can be sanctioned against Bank Term Deposits (100% / loan amount) in the name of applicant or third party with lien marking.
  • Minimum CIBIL score should be 650.
  • Amount of Loan: max. ₹30.00 lakh
  • Tenure of the loan: 72 months
  • The borrower can choose to repay early also.
  • No collaterals required
  • One surety is required
  • Low margins.
  • Low processing charges
  • Easy EMIs
  • Rate of Interest:11% p.a

Other Types Of Loans
Home Loan
The Bank Finance Housing Loans for House construction/purchase,repairs/modifications etc.
Gold Loan
To generate employment opportunities in rural as well as urban areas through setting up of new self-employment
Mortage Loan
The Bank Finances Education Loan for Technical, Professional, higher studies in India/ Abroad

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Corporate Office

27-29-28 NTR Sahakara Bhavan, Help Hospital Road, Governorpet, Vijayawada- 520 002.

Office Hours

Mon - Fri: 9.00am to 5.00pm

Front Desk

1800-4252345 info.tech@apcob.org

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    FAQ's

    What is a vehicle loan?

    A vehicle loan, also known as an auto loan or car loan, is a type of financing provided by banks, credit unions, or financial institutions to help individuals or businesses purchase vehicles, such as cars, motorcycles, trucks, or other motorized modes of transport.

    Who is eligible to apply for a vehicle loan?

    Eligibility criteria for a vehicle loan usually involve factors like age, income, credit score, employment status, and the type of vehicle being financed. Lenders may require applicants to be of legal age, have a steady income, and meet certain creditworthiness standards.

    Can I get a vehicle loan for a used vehicle?