Purchase of Four Wheeler/ Two Wheeler Vehicle for Personal/ Commercial use)
* "Conditions Apply. Loan at sole discretion of the Bank." SMS 'Loan' to 70659 66665
Repayment Tenure:
New Four Wheeler - 60 months
Two Wheeler loan - 36 months
Second hand four Wheeler - 36 months
Margin :
1 - 10% of on Road cost for new car
2 - 50% of value for second hand car.
Maximum Loan Amount Limit :
Not Applicable
Maximum Loan Amount Limit :
Not Applicable
Eligibility :
Salaried Persons:-
With minimum 1 years of past permanent/confirmed service.
Non-Salaried Persons:-
Self employed person with profit earning for at least past 2 years.
Security :
Hypothecation of Vehicle to be purchased along with all accessories
Guarantors :
NIL (*)
Subscription to Bank's Share - Membership:
2.50% of Loan Amount
Processing fee :
Second hand Four Wheeler - 0.70% of Loan amount
New Two Wheeler - 0.25% of Loan Amount
New four wheeler for personal use – nil
New four wheeler for commercial use - 0.50% of value.
1. Loan Application Form in prescribed format.
2. One passport size photograph
3. Address Proof.
4. Identity Proof.
5. Salary/Income details.
6. Net worth forms.
7. Proforma Invoice of Authorised Dealer.
8. Any other documents required by the Bank.