LOAN FOR PURCHASE OF CARS/TWO WHEELERS/THREE WHEELERS/COMM. VEHICLES

Purpose Personal/ Commercial loans for purchase of Cars/Two wheelers/Three wheelers / Commercial Vehicles
Eligibility Salaried Employees /Businessmen/Professionals
Limit of loan Depending upon repayment capacity OR cost of new vehicle ( valuation of old vehicle) less margin. 
Basis of Advance 1. upto 90% of cost of new vehicle.
2. 50% of the valuation of old vehicle ( Car )
Repayment Period 36 months for two wheelers & Maximum 60 months for new vehicles OR remaining life period of old vehicle.
Rate of Interest CLICK HERE FOR THE RATES
Processing fees Two wheeler Rs.250.00 + Service Tax
Four Wheeler Rs.350.00 + Service Tax
Used vehicle Rs.500.00 + Service Tax
Shareholding/ Membership Contribution 2.50% of loan amount for limits of Rs.1.00 lac and above.
Security Hypothecation of vehicle purchased with Bank Finance.
Guarantors As acceptable to the Bank. ( with good net worth)
Documentation 1. 1. Duly filled prescribed application form
2. 2. Photo Identity & Residence Proof of the Applicant &  Guarantor
3. Income proof a) or b) frombelow as applicable
    a) Salaried person : salary slips for last 3 months, ITR/Form 16 for last 3 years, Bank Statement for last 6 months
    b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.  
Conditions apply