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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.