ABN Amro

What makes the ABN AMRO Car Loan so special?
ABN AMRO Bank offers you car loans at attractive interest rates and for tenures from 1 up to five years’ interest rates are on a monthly reducing balance basis. Which means that besides low interest rate, you actually pay a reduced amount each month. You may be eligible for reduction of up to 1.5 per cent on the rack interest rate based on certain qualifying criteria.

How much can I borrow?
The minimum loan amount is Rs 50,000. The maximum loan amount is based on a percentage of car value as given below:

Maximum loan amounts as a percentage of the ex-showroom price of the new car Eligible cars
Up to 90 per cent Maruti 800, Maruti Esteem 1300 cc, Maruti Zen, Maruti Omni Van, Maruti Baleno, Maruti WagonR, Maruti Alto, Fiat Siena, Toyota Qualis, Daewoo Matiz, Mercedes Benz E Class, Opel Astra, Opel Corsa, Ford Ikon, Hyundai Santro, Hyundai Accent, Mitsubishi Lancer, Tata Indica, Honda City Up to 85 per cent Maruti Baleno Altura, Fiat Uno, Fiat Siena Weekend Up to 80 per cent Tata Safari, Daewoo Cielo, Daewoo Nexia, Mahindra Bolero Up to 75 per cent Maruti Gypsy**, Ambassador Nova Isuzu**, Tata Siera**, Tata Sumo**, Mahindra Armada** Up to 70 per cent Mercedes Benz S Class * Conditions apply ** Loan terms restricted to 3 years for these cars For all other cars, loans are available for up to 5 years *** Loan amount for Mercedes models on base price

What are the Equated Monthly Instalments (EMIs) that I have to pay against my ABN AMRO Car Loan?
The EMI you pay is a function of the loan amount, the payment plan, the tenure and the applicable interest rate. It may be as low as Rs 2325 per lakh on a 5-year loan, or Rs 3425 per lakh for a 3-year loan, depending on the applicable interest rate. At the time of disbursing your loan, the Bank collects EMI payments in the form of post-dated cheques or Standing Instructions (only for ABN AMRO Savings or Current Account customers with a minimum relationship of 6 months) or Electronic Clearing System (ECS) instructions on other bank accounts.

What are the payment plans available to me?
Payment plans on ABN AMRO Car Loans can be customised by our representative to suit your requirements. You can choose from Arrears and Advance instalment plans. Salaried and self-employed individuals can also opt for alternate payment plans in which the monthly instalments either grow, each year (Step-up payment plan) or decline each year (Step-down instalment plan).

What is the basic eligibility criteria for an ABN AMRO Car Loan?
For an Individual/Sole Proprietor(ship)
Gross Household Income

For a standard car	Rs 60,000 per annum
For a premium car	Rs 100,000 per annum

If your business is a Partnership or Limited Company

Profit after tax plus depreciation, partner's salaries and interest on partnership capital (if applicable)

For a standard car	Rs 60,000 per annum
For a premium car	Rs 100,000 per annum

In addition

Minimum gross sales	Rs 4,50,000 per annum
Minimum net worth	Rs 2,00,000 per annum

Besides the above, further criteria also apply. Special criteria apply for luxury cars.

If I do not meet your criteria can I still get an ABN AMRO Car Loan?
Yes, you may apply for an ABN AMRO Car Loan under the Guarantor Programme: If you are an individual or sole proprietor, your spouse, parents or children can be your guarantors/your siblings residing at the same residence address as yours can also be your guarantors If you are a partnership or private limited company, any one of your partners or directors can be the guarantors.

Does ABN AMRO Bank offer any special programs for existing / new customers? - Existing customers meeting criteria may be eligible for Pre-approved / Pre-qualified loans. New customers applying under any of the following programs need not submit proof of income:
Gross Receipts Program Applicable for self-employed individuals / proprietor. Under this program 15 per cent of sales turnover / gross receipts is considered as income.
Credit Card program Applicable for Gold / Preferred card holders having cards from American Express, ANZ Grindlays, Citibank, Hongkong & Shanghai Banking Corporation (HSBC), Standard Chartered, SBI-GE or ICICI for Premium and Standard cars only. Classic / Regular cardholders having cards from these issuers may be eligible for Standard cars only.
Deposit Balance Program Applicable for individual customers having a Savings or Current account with ABN AMRO Bank, which has been in operation for at least 6 months. The program is applicable on the basis of average daily balance in the customer's account as defined by the bank from time to time.
Club Membership Program Applicable for individual members of select clubs specified by ABN AMRO Bank. Repayment History Program Applicable for individual customers having a satisfactory repayment history on a loan with any of the specified financiers

Does ABN AMRO Bank offer any discounts?
Based on eligibility you can avail a combination of the following discounts up to a maximum of 1.5 per cent:
Volume discount: 1 per cent off on the prevailing rack rate for existing car loan customers of ABN AMRO Bank.
Relationship discount: 0.5 per cent off on the prevailing rack rate for existing customers having Savings / Current accounts or Personal Loan or Loans against Shares accounts with ABN AMRO Bank. Good Credit discount: 1 per cent off on the prevailing rack rate if you fulfil any of the following criteria: Ownership of any credit card which is more than 1 year old. Income greater than required minimum income criteria by Rs 40,000 per annum.
A satisfactory repayment track record on a loan with any of the specified financiers Qualification under the Average Daily Balance (ADB) program as above, with an ADB - higher by Rs 20,000 over the minimum stipulated under the program. Club membership as stipulated under the Select Club Member Program.

Do I have the option of pre-paying a part of or the entire loan amount?
ABN AMRO Bank offers you the flexibility of pre-paying up to 25 per cent of the principal amount of your car loan once every 12 months, at no cost. You also have the option to pre-pay more than this amount at a pre-payment charge of 4 per cent of the amount exceeding the initial 25 per cent. There is no pre-payment charge whatsoever on prepayment after completion of 3 years of your loan tenure.

So what do I do next to avail an ABN AMRO Car Loan?
Contact us for a form. We'll also have a representative come over, if you desire. The following documents are required for a Car Loan:

For Individuals/Sole proprietor(ship)

Proof of Income

Proof of Identity

Copy of your latest income Tax return or TDS Form 16. For government, public sector employees or employees of large public limited companies, your salary certificate will suffice. Salaried individuals may submit a copy of the income tax assessment order or computerised salary slip or the appointment letter. Alternatively, a photocopy of front and back of your credit / charge card approved under the Credit Card Program above along with billing statement for last 2 months, provided the card relationship has been for at least 1 year.* Alternatively, evidence of established repayment track record for the last 12 months with any of the specified financiers Other conditions apply.*

Members of select premium clubs can attach just a copy of their club identity card and a copy of the latest billing statement.*

*Valid only for the first loan with ABN AMRO Bank. One photograph along with: (a) photocopy of your passport or (b) photocopy of driving licence or (c) photocopy of front & back of your credit card or (d) photocopy of Income Tax PAN Card or (e) Signature verification by your bank (as per ABN AMRO bank format) In case you are submitting a copy of your credit card or banker's verification, be sure to include one of the following proofs of current address (address on document below and in your application form must be identical): - ration card or - telephone bill or - electricity bill or - water bill or - LIC receipt / policy or - electoral identity card or - latest card billing statement or - bank passbook / statement
For partnerships

Proof of Income

Proof of Identity

Copy of last 2 years' audited profit & loss account and balance sheet along with annexures, certified by one of the partners If the accounts are not audited, they need to be accompanied by a copy of the latest income tax returns. Copy of partnership deed, certified by one of the partners
For companies

Proof of Income

Proof of Identity

Copy of last two years' audited profit & loss account and balance sheet along with annexures, certified by one of the directors Copy of certificate of incorporation, attested by a Director, along with Memorandum & Articles of Association, attested by a Director.

Are ABN AMRO Car Loans available for Used Cars?
Yes. ABN AMRO Car Loans are available at attractive terms for a wide range of used car models. The maximum loan amount can be up to 80 per cent of assessed value of the car.

Which are the Used Car models on which I can get the Loan?
Following are the Used Car models on which you can get the Loan: Standard Cars Maruti 800, Maruti Zen, Maruti Omni Van, Maruti Wagon R, Maruti Alto, Hyundai Santro, Daewoo Matiz, Tata Indica, Fiat Uno. Premium Cars Maruti Esteem, Maruti Baleno, Hyundai Accent, Ford Ikon, Opel Corsa, Opel Astra, Daewoo Cielo, Honda City and Mitsubishi Lancer. Luxury Car Mercedes Benz

Which are the New Car models on which I can get the Loan?
Following are the New Car models on which you can get the Loan: Standard Cars Maruti 800, Maruti Zen, Maruti Omni Van, Maruti Wagon R, Maruti Alto, Maruti Gypsy, Hyundai Santro, Daewoo Matiz, Tata Indica, Fiat Uno, Ambassador. Premium Cars Maruti Esteem, Maruti Baleno / Altura, Hyundai Accent, Ford Ikon, Opel Corsa, Opel Astra, Daewoo Cielo, Daewoo Nexia, Fiat Siena / Weekend, Honda City, and Mitsubishi Lancer, Toyota Qualis, Tata Safari, Tata Sumo, Tata Sierra, Mahindra Armada, Mahindra Baleno. Luxury Car Mercedes Benz

Standard Cars
Maruti 800, Maruti Zen, Hyundai Santro, Maruti Omni Van, Maruti Wagon R, Maruti Alto, Maruti Gypsy, Hyundai Santro, Daewoo Matiz, Tata Indica, Fiat Uno.

Premium Cars
Maruti Esteem, Maruti Baleno, Hyundai Accent, Ford Ikon, Opel Corsa, Opel Astra, Daewoo Cielo, Daewoo Nexia, Fiat Siena, Honda City and Mitsubishi Lancer.

Luxury Car
Mercedes Benz.