Services

Vehicle Loan

  • Vidya Sahakari Bank Ltd. - Vehicle Loan Purpose :
    For Purchase of New Vehicle or Second Hand Vehicle
  • Eligibility :
    Salaried Employees/Businessmen having regular source of income.
  • Loan Amount :
    70% of Quotation for New Vehicle
    50% of Valuation or 50 % of actual cost which ever is less for Second Hand Vehicle
  • Margin :
    30% of Quotation
  • Rate of Interest :
    13% upto 3 years, 13.5% upto 5 years, 14% above 5 years
  • Security :
    Hypothecation of Vehicle
  • Guarantee :
    Two competent guarantors acceptable to bank.
  • Processing Charges :
    0.5 % of the loan amount applied
  • Shareholding :
    As per Bank's rule
  • Documents Required :
    I. Latest Photograph, Photo Identity Proof, Residence proof of the Applicant and Guarantors
    II. In case of salaried person, salary slip for last 3 months and bank statement for last 6 months, ITR for 3 years
    III. In case of businessman, last 2 years profit & loss and balancesheet, ITR copies of last 3 years and bank statement of business account for last 6 months.
    IV. Quotation of Vehicle
    V. Margin Money Receipts
  • Special schemes for purchasing four wheelers for personal use on simple and attractive terms & conditions.
Top