Vehicle Loan

Vehicle Loan Policy for the year 2022-23

  • Loan Facility is available for Two wheeler,Four wheeler,Commercial Vehicles-Tourist Vehicle,Auto Rikshaw,Tractor,JCB,Poclain etc.
  • New Vehicle -75 % To 80 % as per Quotation
  • Old Vehicle -50 % Or purchase price whichever is lower as per Quotation
  • New Vehicles-Repayment period Maximum 84 months on EMI basis.
  • Old Vehicles-Repayment period Maximum 60 months on EMI basis.
  • Repayment period Maximum 36 Months for Two wheeler.
  • Repayment period Maximum 84 Months for Four wheeler loan Above 3 Lakhs.

No Of Guarantors

  • Two Guarantors, Of which one Salary earner is preffered.

Interest Rate

  • 1.Vehicle Loan 10.75%
  • 2.Commercial Vehicle Loan 11.25%

Documents

  • 1. 2 Photos of the applicant
  • 2. 2 guarantors and there Photos
  • 3. Full KYC with PAN card signature of applicant and guarantor
  • 4. Business related Licenses, Shop Act
  • 5. Property Search report
  • 6. Applicant's Tax Advisor / CA Certified / Audited Financial Statement / Form No. 16 for last three years
  • 7. Notarized certificate of bank in that place / area or notarized declaration regarding own loan
  • 8. Quotation
  • 9. CIBIL report of individual and firm
  • 10. guarantor one year Current IT Return / Income Certificate
  • 11. applicant Driving License.