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