Now avail your dream car with our fast vehicle loan facility. We also provide loan facility for second hand used vehicle (four wheelers only)
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Loan Limit : 80% of Quotation (including Insurance & Tax Amount) Maximum Loan Amount Rs.3 Lakhs for Two-wheelers & Rs.40 Lakhs for Four-wheelers
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For old Four Wheeler vehicle : 70% of valuation of amount (within 2 years old vehicle only) and 50% to 60% of Valuation (within 3 years old) or maximum Rs.15 lakhs
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Loan Tenure Duration :
For New Two-wheeler Vehicles – 60 Months & For Battery vehicles – 36 Months
For New Four-wheeler Vehicles – 84 Months & For New Battery Vehicles – 60 Months
For old Four Wheeler Vehicles – 60 Months
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2 Wheeler Rate Of Interest - 10.75%
Four Wheeler (New) Rate Of Interest - 10.75%
Four Wheeler (Old - within 3 years) Rate Of Interest - 11.00%
For Salaried Persons:
- i. Employees of reputed and financially sound organization.
- ii. Salary undertaking from the Company
For Businessmen & Professionals :
- Business should have establishment of minimum of 3 years.
Documents :
Duly filled form with :
- Income Proof of Applicant & Guarantor
- Residential Proof of Applicant & Guarantor
- Original Quotation / Invoice
- KYC of Applicant and Guarantors
- PAN Card of Applicant & Guarantor
Prime Security :
- Purchased vehicle to be hypothecated in Bank’s name.
Guarantors :
- Two Financial strong Guarantors Required
- One Upfront EMI, Franking Charges, Insurance of vehicle, etc
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Borrower & Guarantors :
Regular Membership fees @ 2.5% of loan amount
Regular Membership – For Loan Amount above Rs. 1 Lakh
