Ag.VehicleSignificant Features:For the purchase of new vehicle 75 % of Value of vehicle is sanctioned (max).
For the purchase of Old vehicle Up to 5 years old.
Truck, Matador, Station Wagon, Tractor etc.
– 5 Years Old 50 % of Value.Bank may seek opinion of valuer for old vehicle.
– Normal Installment is Rs. 31.55 per 1000 Rs. Of Loan.Other Requirement
– Additional Security i.e. Land/Building /F.D./NSC/L.I.C.Policy May Be Asked.
– 25% Margin Money Should Be Deposited in Bank.
– 40 Equal Installment for Advances Upto 1 Lac Rs. & Rate Of Int. 13.50%
– 40 Equal Installment for Advances above 1 Lacs to 10 Lacs Rs. & Rate of Int. 14.25%
– Quotation of Vehicle.
– Two Person for Guarantor of Bank Member.
– Copy of Smart Nagarik Card.
– Source of Income applicant & guarantor both.
– Additional Security i.e. Land/Building /F.D./NSC/L.I.C. Policy.
– 25% Margin Money Have to Deposit in Bank.
– After sanction of loan Applicant must submit.
– Agreement of Hypothecation of Vehicle.
– Security Deposit or Rs. 1000/- for 2 Wheeler.
– Security Deposit or Rs. 3000/- for 3 Wheeler.
– Security Deposit or Rs. 10000/- for 4 Wheeler.
– Security Deposit Will refundable after submit a bill of vehicle, HPA and Other Document produced by lone.
– Forms like T.O., T.T.O., H.P.A.
– C.R.L.D, H.P.A. Form, AND E.Form.
– Latter of Guarantee From Company.