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Applicant |
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Any Individual (Single / Joint) |
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Purpose |
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For purchase of New/Old vehicle ( 2/4 Wheelers)
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Loan Amount |
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As per requirement. (Ex-showroom price+ RTA Charges + Accessories are included.) Margin - 0% for loan up to Rs. 10 Lakh & 10% for loan above Rs. 10 Lakh & 40% for resale vehicle.
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Rate of Interest |
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Click Here for Rate of Interest |
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Repayment |
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Maximum 60 months.
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Security |
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Hypothecation of vehicle.No Guarantor up to Rs.10 Lakh. If loan amount is more than Rs.25 Lakh, then in such case immovable security need to be provided.
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Processing Fees |
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0.50% of the loan amount (Minimum - Rs. 500 and Maximum - No Limit)
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Shareholding |
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Up to Rs.1 Lakh-Nominal membership. Above Rs.1 Lakh - 2.5% of the loan amount.
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Documents |
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Loan Application Form, Proforma Invoice of the Authorized Dealer. For other documents – Check Additional Information.
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Insurance |
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Insurance of vehicle / Assets charged to the Bank.
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Other |
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Other Terms and conditions are also applicable.
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