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Against Vehicle

Significant Features:

For the purchase of new vehicle 80 % of value (on road) of vehicle is sanctioned (max).

  • 100% collateral or 50% Liquid Security is required.
  • Existing Customer (Borrower) can avail maximum 25% of existing limit as Car Loan. Kindly approach branch.
  • Rate 8.50%

Other Requirement:

  • Quotation of Vehicle.
  • One Person for Guarantor of Bank Member.
  • Source of Income applicant & guarantor both.
  • Additional Security i.e. Land/Building /F.D./NSC/L.I.C. Policy.
  • 22% 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.

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