Vehicle Loans w.e.f. 16.11.2011
- Salaried individual in permanent employment.
- Professional and self employed person, businessman.
25% of quotation price from dealer (For New vehicle)
50% for Second Hand Vehicle – (Not more than 5 years)
Rate of Interest:
- Upto Rs. 5 lakhs – (Maximum 5 years): 12.50%
- Above Rs. 5 lakhs – (Maximum 5 years): 13.00%
Second Hand Vehicle
- Model Not More Than 5 Years: 15.00%
- Two Wheelers (Maximum 5 Years): 13.00%
New Vehicle – 5 years to 7 years
Second Hand Vehicle – 5 years
No Pre-payment charges
Hypothecation of vehicle purchased.
- Proof of Residence and photographs.
- Salary Certificate of Applicant and sureties with photographs.
- Latest Audited Statement of Account/Income Tax Return
- Valuation Report from Bank’s Approved Valuer (for second hand vehicle).
- Quotation from Dealer.
- Bank’s charge to be registered with R.T.O.
- Blank Forms No. 29, 30, 35 in duplicate issued by R. T. O.
Please contact our nearest Branch for detail information and requirement.