Vehicle Loan

PURPOSE	Purchase of new vehicle from the date of its registration.
REPAYMENT	Above Rs. 1,00,000/- 50 installments and below Rs. 1,00,000/- 36 installments.
ELIGIBILITY	An individual who is an income tax assesse, salaried employee etc. Agriculturists owning agricultural properties. A company / firm/ trust/ association/societies availing the loan in its name or in the name of its executive / managing director / managing partner/managing trustee/president/secretory.
QUANTUM	Maximum individual limit of the loan is Rs 40,00,000/-.
PERIOD	Maximum up to 60 months/5 years
RATE OF INTEREST	The rate of interest on these loans shall be charged at the rate fixed by our Bank from time to time or rate applicable at the time of disbursement of loan and interest will be debited to the a/c every month.
DOCUMENTS AND FORMALITIES TO BE SUBITTED	Loan Application with passport size photographs - 2 copies each ID proof, Income proof of the applicant and 2 guarantors. Quotation of the vehicle, driving license. Processing fees applied.
SECURITY	Hypothecation of vehicle to be purchased, 1 set Key, RC –Smart Card