Home | Service Charges | Feedback | Sitemap | Photogallery
 
 
Branches
ATM'S
Term Deposits
Personal Loan
Business Loan
RTGS / NEFT
SMS Banking
PAN Card
EMI Calculator
Term Deposit Calculator
Share Holders
Download Forms
:: VEHICLE LOAN ::

VEHICLE LOAN IS
CONSIDERED FOR
PURCHASE OF
* Two Wheeler
* Four Wheeler - For own use
* Four Wheeler - For commercial use
* Three Wheeler / Five Wheeler / Tempo
* Commercial Vehicles : Truck, JCB etc
 
ELIGIBILITY * The applicant must have assured monthly income to repay the EMI
* Last three years income proof to be submitteds
* In case of Taxi / Autorickshaw / Heavy / Commercial Vehicles permit from RTO
 
EXTENT OF LOAN * Maximum loan amount allowed for New Car is 100% of vehicle cost (on Ex. Showroom cost) without cost of fire insurance, accessories and one time RTO charges
* Finance for purchase of old cars (upto 2 years old) allowed at 40% margin against the agreement cost or insured declared value whcihever is less.
 
REBATE * The loan accounts with regular repayment throughout the year will get rebate of 0.25% p.a. In the month of march every years.
WOMEN BORROWERS There will be concessional rate of interest of 0.50% p.a. To all women borrowers.
 
SECURITY * Hypothecation of vehicle bank's charge on vehicle to be registered with RTO
* Comprehensive insurance with bank clause
* Personal guarantee of two members acceptable to bank ( In case of two wheelers on guarantor is allowed )
 
CHARGES * Processing charges of 0.50% of loan applied to be paid upfront
* Insurance and other document charges
* Membership charges of 2.50% on loan amount in case of four wheeler and nominal membership upto Rs. 1 Lac in case of Two Wheeler Loan