vehicle Loan


  • Vehicle Loan is available for purchase of two wheelers, three wheelers, Four wheelers and for Commercial vehicles and also for purchase of two years old car with good condition
Applicant details:
  • Applicant last three years Income tax Return / Payslip of last 3 months / Notarized income certificate for joint family.
  • Last tax bill / certificate from society chairman/Secretary if applicant owned property
  • 3 Photographs of Applicant
  • Address proof /electric bill /telephone bill (any one) As per KYC norms
  • Photo proof /Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms
  • Quotation of vehicle
  • Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
Guarantor Details
  • Photograph-2 copies
  • Last tax bill
  • Last three years income tax return copy
  • Address proof /electric bill /telephone bill (any one)
  • Photo proof  Pan card / Voter card / Driving license/Aadhar card (Any one)
Conditions
  • We give loan up to 85% of quotation of basic price. for transport/ commercial vehical Bank will give loan upto 85% of quotation of basic price.
  • Applicant has to take insurance of full value of vehicle in favour of bank.
  • The Loan for two wheelers, three wheelers, Four wheelers  will be repaid with interest in 36 to 60 equal monthly instalments.
  • Applicant will pay margin amount to the bank.In that case Bank will issue Banker cheque of full amount in the name of dealer.
  • Applicant have to submit Original copy of invoice, receipt, insurance policy, RTO book showing Bank's lien recorded with RTO.
  • Applicant has to take share @ 2.5% of the limit.
  • The processing charges from 500 Rs to 0.5% of loan amount will be levied on sanction.