Vehicle Loan

Hit the Road

Drive Home Your Dream
With aVehicle Loan

Specialized instant vehicle loans ensuring you don't have to wait to take the driver's seat. Experience quick approvals and maximal coverage.

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Vehicle Loan

Key Advantages

Finance your new or pre-owned vehicle with competitive interest rates and seamless processing designed for speed and convenience.

Maximal Coverage

We offer financing extending vastly up to 100% of the on-road valuation for selected automotive segments, minimizing your down payment.

Instant Approvals

Experience near-zero latency with our express approval integrations located directly at major local automotive dealerships.

New & Pre-Owned

We provide competitive brackets spanning across both brand new automobiles and certified second-hand transports.

  • Purchase of eligible two-wheelers.
  • Term Loan facility.
  • EMI-based repayment.
  • Finance based on vehicle cost and repayment capacity.
  • Salaried applicants.
  • Self-employed applicants.
  • Other eligible individuals.
  • Regular income required.
  • Adequate repayment capacity required.
  • Interest – 10.00% p.a..
  • Other charges – As applicable.
  • KYC documents.
  • Income proof.
  • Bank statement.
  • Dealer quotation/invoice.
  • Vehicle registration/hypothecation documents.
  • Vehicle to be comprehensively insured.
  • Bank's charge/hypothecation is to be recorded.
  • Repayment as per sanctioned tenure.

  • Purchase of new passenger cars.
  • Purchase of MUVs.
  • Purchase of SUVs.
  • Term Loan facility.
  • Loan assessed based on income and repayment capacity.
  • Salaried employees.
  • Government employees.
  • PSU/corporate employees.
  • Professionals.
  • Self-employed/business persons.
  • Eligible income-tax assessees.
  • Satisfactory credit profile required.
  • CIBIL score above 850 – 8.50% p.a.
  • CIBIL score 750–849 – 9.00% p.a.
  • CIBIL score 600–749 – 10.00% p.a.
  • Other charges – As applicable.
  • KYC documents.
  • Salary/income proof.
  • ITR/financial statements, wherever applicable.
  • Dealer quotation/proforma invoice.
  • Vehicle-related documents.
  • Vehicle hypothecation required.
  • Comprehensive vehicle insurance required.
  • Bank's charge to be recorded.
  • Loan amount subject to income/EMI eligibility.
  • Nil margin for salaried class
  • Maximum tenure 7 years

Important Documents

Fair practices code
View PDF
Key Facts Statement (KFS) Formats
View PDF

Ready to hit the road?

Walk into your nearest Meghalaya Rural Bank branch or leave your details for a speedy callback from our advisors.