LOAN

Maximum amount:

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.

Eligibility:

Salaried Person-Employee of reputed organization with confirmed service/Businessman-Sole Proprietor/Partnership Firm/Pvt. Ltd company/Professional/Self Employed person/ Partner/ Director etc.

Margin:

15% to 40 %.

Membership:

Regular Member of Bank.

Period:

Maximum 60 months for new Vehicle
Maximum 36 months for Old Vehicle.

Guarantors:

Minimum two sureties and maximum depends on merit of proposal

Security:

Hypothecation of proposed vehicle and collateral security is required in deserving case.

Interest Rate:

As per Bank Policy.

Service Charges:

Are applicable from time to time.

Documents Required:

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.