For purchase of Vehicle for personal use and Commercial use. Old vehicle is not more than 5 years from manufacturing date
85% of on-road cost of Vehicle or applied amount which over is lower in case of new Vehicle. In case of old vehicle 60% of Valuation price or 75% of Agreement Value or Applied amount which over is low.
Salaried Person-Employee of reputed organization with confirmed service/Businessman-Sole Proprietor/Partnership Firm/Pvt. Ltd company/Professional/Self Employed person/ Partner/ Director etc.
15% to 40 %.
Regular Member of Bank.
Maximum 60 months for new Vehicle
Maximum 36 months for Old Vehicle.
Minimum two sureties and maximum depends on merit of proposal
Hypothecation of proposed vehicle and collateral security is required in deserving case.
As per Bank Policy.
Are applicable from time to time.
Self certified KYC documents, Existing Bankers Statement for last one year, Original Pay slips for last consecutive three months/Salary Certificate, form No-16 And/or IT Returns with computation of income and Financial statements for last three consecutive years. In case of Businessman/Self employed/Proprietor/Partner/ Director/Professional IT Returns are compulsory along with other necessary documents. Proforma Invoice of authorized dealer/Vehicle Purchase letter or agreement in case of old vehicle, Margin Money paid receipts and any other documents required on case to case basis.