VEHICLE LOAN
About VEHICLE Loan
We make sure that your dream car gets the maximum mileage with our competitive loan rates. So hop on for a smooth ride with this facility
Purpose
- For acquiring Own Vehicle (Four wheeler)/ Two wheeler) – New– *for personal / Partners / Director’s / Trustee’s use, & for any Commercial use.
Eligibility
- Individual/s, salaried employees, Businessmen, Self-employed, Professionals having regular source of income. *Firm (Proprietary/Partnership), Pvt. / Public Ltd. Co. / Reg. Trust
- New Vehicles: 80% of Ex-showroom Price
- Personal Use – Rate of Interest 10% to 11.50%
- Commercial Use – Rate of interest 13% to 13.50%
Securities
- Hypothecation of the Vehicle financed.
Margin
- New Vehicles: 20% to 25% (on Ex-showroom Price)
Documents Required
- Loan application.
- Residential proof of Applicant and sureties.
- Certified Balance sheet and Profit & Loss A/c. Statements of the borrowers and sureties other than salaried persons.
- Income Tax Returns of last three years of the Borrower(s) and the sureties.
- Authenticated Quotation.