Vehicle Loan

• Purpose :
  For Purchase of New Vehicle or Second Hand Vehicle (Personal Use)
• Eligibility :
  Salaried Employees/Businessmen having regular source of income.
• Loan Amount :
  90% of Quotation for New Vehicle
  10% on road price Affordable & loan ROI
• Rate of Interest :
  8 % upto 3 years
  8.15 % upto 5 years
  8.25 % upto 7 years
• Security :
  Hypothecation of Vehicle
• Guarantee :
  One competent guarantor acceptable to bank. If Loan required 50% No Guarantor Needed
• Processing Charges :
  upto 10.00 lacs – 1000+GST
  Upto 20.00 lacs- 1500+GST
  Above 20.00 lacs – 2000 +GST
• Shareholding :
  1118 /-
• Documents Required :
  I. KYC of applicant and guarantor.
  II. In case of salaried person, salary slip for last 3 months and bank statement for last 6 months,
  III. In case of businessman, last 3 years ITR & profit & loss and balancesheet, bank statement of business account for last 6 months.
  IV. Quotation of Vehicle
  V. Margin Money Receipts.