Doing your homework before buying a pre-owned car is just as important as choosing the right loan for it. Keeping convenience as our priority, we offer you the best car loan with the lowest interest rate, making your car buying experience smooth.


  1. Salaried persons with one year confirmed service.
  2. Other than salaried having regular source of income.

Loan Amount:

Min. Rs. 1 Lakh, Max Rs. 100 lakh.

Basis of Advance:

1. Lower of value assessed by valuer or agreed price of the car
    a. 70% of cost (as per Banks valuation report or purchase price)* (In case of cars = or less than 2 years)
    b. 60% of cost (as per Banks valuation report or purchase price)* (In case of cars more than 2 years but less than 5 years old.

2. Salaried: 40 times of Avg Net Monthly Salary.
    Businessmen: 4 times of Avg Gross Cash accruals.

Repayment Period:

  1. Maximum 36 months for Cars more than 3 years but less than 5 years old.
  2. Maximum 60 months for Cars less than or equal to 3 years.

Rate of Interest :

Fixed 9.50 p.a. for both small and high-end car

Processing Fees:

0.50% of loan amount maximum Rs. 5000/-


As per extant shareholding norms


  1. Hypothecation of car to be purchased.
  2. One guarantor.

Documents Required:

  1. Duly filled prescribed application form.
  2. Latest Photograph, Photo Identity & Residence Proof of the Applicant.
  3. 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.
  4. Vehicle inspection report, RC/TC Book Copy.

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