Vehicle Loan


Seylan Vehicle Loan enables you to purchase a motor vehicle (Brand new /Registered / Unregistered) or raise funds for personal requirements against a vehicle owned.

Loan Features

  • Stamp Duty Absorbed by the bank.
  • Low fixed interest rates.
  • Repayment up to 07 years.
  • Door step service.
  • Loan facilities starting from 1 Mio to 20 million.
  • No Irregularities in CRIB

Note: Loans for Three wheelers/ Motor Bikes & Chinese origin vehicles are not considered under the scheme.

Eligibility :

  • Net Income + Fixed Allowances to be over Rs.100,000/-
  • Permanent Employees who have completed 1 year in employment
  • Age between 20 – 60 years
  • Documents Required – Application stage
  • Valid National Identity Card / Driving License
  • Letter of employment and Salary confirmation
  • Evidence of Income : Last 3 months salary slips & Bank statement of last 3 months
  • Copy of marriage certificate (if joint with spouse)
  • Billing proof (utility bills)
  • Sole agent’s invoice for brand new vehicles
  • Invoice & Valuation from a panel valuer for unregistered vehicles
  • Copy of CR book & valuation from a panel valuer for registered vehicles
  • Duly completed application

Vehicle Loan

Period Salary 100000 Above 50000 Up to 99999 100000 and Above
01 Year 13.7500 14.5000 14.0000
02 Years 13.7500 14.5000 14.0000
03 Years 13.7500 14.5000 14.0000
04 Years 14.0000 15.0000 14.5000
05 Years 14.0000 15.0000 14.5000
06 Years 14.5000 15.7500 14.7500
07 Years 14.5000 15.7500 14.7500