Application Forms
Documents For Availing Loan
Submission of Documents after availing Loan
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New Vehicle - Copy of Invoice and RC
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Pre-owned Vehicle - Copy of RC and Proof of payment
Vehicle not older than ten years from the date of its first registration
Note :
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Please mention your service particulars on the documents submitted to AFGIS.
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You are required to submit the stipulated documents within 90 days from the date of payment.
Officers (including SSC officers)
| Types |
Eligibilty |
Quantum of Loan
( ) |
Repayment
(No. of Instalments) |
| New Four wheeler |
Officers who have completed at least six
months of actual service from the date of their first appointment (incl
post-commissioning trg assignment) after grant of PC/SSC. |
50 Lakh |
180 |
| Pre-owned four wheeler |
-do- |
20 Lakh |
120 |
| New Two Wheeler |
On commissioning (PC/SSC). |
5 Lakh |
96 |
Airmen
| Types |
Eligibility |
Quantum of Loan
( ) |
Repayment
(No. of Instalments) |
| New four wheeler |
SNCOs and above with 2 yrs of service |
25 Lakh |
180 |
| Cpl and below with completion of 2 yrs of service |
25 Lakh |
| Pre-owned four wheeler |
SNCOs and above with 2 yrs of service |
8 Lakh |
120 |
| Cpl and below with completion of 2 yrs of service |
8 Lakh |
| New Two Wheeler |
SNCOs/Cpl & below with two years of service. |
5 Lakh |
96 |
NCs(E)
| Types |
Eligibility |
Quantum of Loan
( ) |
Repayment
(No. of Instalments) |
| New Two Wheeler |
After completion of two years of service. |
5 Lakh |
96 |
| New four Wheeler |
After completion of two years of service. |
25 Lakh |
180 |
| Pre-owned four wheeler |
8 Lakh |
120 |
Rate of Interest (wef 01 Dec 23)
Processing Fees
- Nil. (Processing Fee has been waived wef 01 Oct 2017)
Loan Insurance
- A one-time non-refundable contribution towards insurance of loan will be recovered from the loanee from the sanctioned amount.
- Click here for details
Note : All the legal papers in the application form are to be used as-it-is and not to be retyped or rephrased
Discipline Cases
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Not eligible if two or more adverse entries (red or black) and five years have not lapsed from the last entry and/or disciplinary proceedings (SOE/GCM/DCM etc) are initiated/ in progress.
Pre-payment / Refund of loan
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Re-fixation of EMIs/refund of loan is allowed not more than two times in a financial year.
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Minimum amount for refund of MCL is Rs one lakh for four wheeler and Rs 20,000/- for two wheelers.
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Such refund in full must preferably be made before 25th of a particular month.
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Details of such refund made by e-remittance, must be immediately communicated to AFGIS through AFNET Login/ FAX/ email/ Letter duly mentioning your service particulars and transaction details.
Penal Rate of Interest
- Penal rate of interest is chargeable for non-submission of documents and non-compliance of stipulated policy & rules.