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:: VEHICLE LOAN ::
VEHICLE LOAN IS
* Two Wheeler
* Four Wheeler - For own use
* Four Wheeler - For commercial use
* Three Wheeler / Five Wheeler / Tempo
* Commercial Vehicles : Truck, JCB etc
* 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.
* The loan accounts with regular repayment throughout the year will get rebate of 0.25% p.a. In the month of march every years.
There will be concessional rate of interest of 0.50% p.a. To all women borrowers.
* 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 )
* 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
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