Citicorp Maruti is a joint venture between Citibank and Maruti Udyog Limited. The company is engaged in the finance of both new and second hand cars. It is located in 29 cities throughout the country and offers a wide range of flexible and customized financing options for the purchase of a Maruti car.
Contact Details:
Citicorp Maruti 2nd Flr, Cititower, Dr S S Rao Rd
Parel, Mumbai
Telphone : 022-4146038 / 51
Fax : 022-4146052
The Housing Development and Finance Corporation (HDFC) is one of the most sought after banks as far as personal finance is concerned. It has achieved this in a large measure by simplifying the procedures associated with taking a loan. It involves easy documentation, accelerated approvals, easy EMI etc. The HDFC Bank finances a range of passenger cars manufactured by India's leading automobile companies.
HDFC Bank Dream Schemes
- Advantage Platinum, this is the express approval scheme for select credit card holders,
- 100 % Fixed Deposit Line Loan plan where you get the full loan amount with the required margin placed as a fixed deposit in HDFC Bank.
- No Documents Loan Plan which as the name suggests, removes all income document requirements
Address:
HDFC Bank Ltd.
26-A, Narayan Properties,
Chandivali, Off Saki Vihar Rd,
Saki Naka Andheri (E),
Mumbai - 400 072
Tel: 852 4900
Fax: 852 4878
For further information call the numbers given below:
Bangalore: 364-1464
Mumbai:624-3087
Chennai: 858-5858
Delhi: 370-4655
Calcutta 2210959
Fiat Auto Sundaram Finance Limited is formed as a result of a tie-up between Sundaram Finance Limited and the financing arm of FIAT, the Financial Services Company of FIAT that aids in the purchase of about 1 million cars each year. Some of the schemes of the company are:
- Hire purchase Plan
- Smart money Plan
- Interest Earning Plan
- Lease Finance Plan
- Used Car Plan
- Customized Finance Plan
Corporate Office :
Fiat India Limited Complex,
L.B.Shastri Marg, Kurla,
Mumbai 400 070
Tel: 022-5097486
Fax: 022-5117940
Cars currently being financed: Only Fiat cars
Effective IRR (all inclusive):
Minimum 16%
Maximum 17%
Minimum and Maximum tenure of loan against the above models: One year to 5 years
Maximum extent of funding provided on the above models: Up to 90% of invoice value
The Industrial Credit and Investment Corporation of India has some of the best schemes if you are thinking of buying a car. It offers loans at competitive prices, without complex procedures to follow, and gives you a variety of payment schemes to choose from. ICICI finances a whole range of cars that include all from the Maruti stable, those from Fiat, the Santro, Contessa, Honda City, Nexia, Lancer, Opel, Ford etc.
The Saraswat Co-Op. Bank Ltd.(SCHEDULED BANK)
The Saraswat Bank is a premier Urban Co-operative Banking Institution and was conferred with Scheduled Status by the Reserve Bank of India on September 1, 1988. It has a network of 64 fully computerized branches spread over in the state of Maharashtra.
Schemes for car loans.
It offers a variety of schemes for car loans. Besides a new car, it also finances the purchase of second hand cars. The Saraswat Bank is currently financing all cars
The Times Bank offers quick loan processing for any and every model that you have to buy. It has customized schemes to suit its clients' interests. Minimum paperwork, easy to fill documents and no hidden costs insure an easy time once you decide to take a loan.
| CENTRE/BRANCH | FAX | TEL |
| MUMBAI | ||
| D.N.Road | 2679944 | (022) 2679951/55 |
| Chembur | 5282503 | (022) 5282519 |
| Andheri | 8235598 | (022) 8235597/98 |
| Worli | 4953934 | (022) 4926529/682/612 |
| Santacruz | 6046890 | (022) 6046778/904/833 |
| Colaba | 2826961 | (022) 2826018 |
| Dadar | 4182698 | (022) 4182696/97/4182717 |
| PUNE | ||
| Shankar Seth Rd | 648924 | (020) 648914/1705 |
| F. C. Road | 373750 | (020) 373751/2/376868 |
| DELHI/NORTH INDIA | ||
| Parliament Street | (011) 3739330/9344 | |
| West Punjabi Bagh | 5451636 | (011) 5451653 |
| Kailash Colony | 6235806 | (011) 6489748/9 |
| New Friends Colony | 6934216 | (011) 6317510/11 |
| Noida / Sector 18 | 8545287 | (011)545286/862 |
| Gurgaon / Sector 14 | 309184 | (0124) 309185 |
| Chandigarh / Madhya Marg | 549891 | (0172) 549893-95 |
| Faridabad / K. Chowk | 422630 | (0129) 422630 |
| Goa | ||
| Margao | 733580 | (0834)733577/74/75 |
| Chennai | ||
| Nungabakkam Road | 8241711 | (044)8234831-35 |
| Annanagar | 6287411 | (044)6288486/7/8 |
| BANGALORE | ||
| M. G. Road | 5092591 | (080)5092589/90 |
| I. T. Park | 8410119 | (080)8410116/17 |
| Airport Road | 5268591 | (080)5268593/5 |
| Calcutta | ||
| Dr. Brahmachari St. | 2805068 | (033) 2804646 |
Standard Chartered Bank - India
The Standard Chartered Bank goes back to more than a century ago, and has today three business divisions - Consumer Banking, Corporate and Institutional Banking and Treasury. The Consumer Banking Division offers different loans, which include auto loans.
Contact Address:
Standard Chartered Bank
Phoenix centre, Phoenix Mills Compound
Senapati Bapat Marg,
Lower Parel Mumbai-400013
TEL:022-4919462-64-65-66.
FAX:022-4919457.
Associates First Capital Corporation Ltd. is a diversified finance company providing consumer and commercial finance, leasing, insurance and related services worldwide. Formally known as the Avco Financial Services in India, The Associates has a presence in 14 countries and services over 22 million customers worldwide.
It finances both cars and two-wheelers. Its schemes include the Margin Money Plan , the Advance EMI Plan , the Residual Value Scheme and the Step-Up Scheme . While the first two apply for both car and two-wheeler finance, the rest of the schemes are meant specifically for car finance. The Associates finances both new and used two-wheelers.
The documents required for processing the finance amount are:
- Completed application form
- Income Proof
- Identity Proof
- Current address Proof
Margin Money Plan - under this scheme, cars are financed upto 70 or even 90% and two-wheelers up to 95%. The amount can then be paid back in EMIs.
Advance EMI Plan - in this scheme, a few of the EMIs have to be paid up front and the balance EMIS spread over the duration of the tenure opted for. This scheme is available for both cars and two-wheelers.
Residual Value Scheme - this is only for car finance. In this scheme, you have the option of paying a lower EMI in the normal payment schedule and a balloon payment of as much as 30% of the finance amount in the last installment.
Step-Up Scheme - this scheme is also available for the finance of cars only. Through this, you could pay as much as 25% of the finance in the first year, 35% in the second year and 40% in the last year, payable in equal monthly installments over a 3 year plan.
