Product Types

Two Wheeler / Four Wheeler - commercial use/ personal use

Purpose 

Purchase of private or commercial vehicles like two wheeler / four wheelers.

Eligibility

Maximum amount of 30 times of net salary for salary holders

3 times of average net profit for businessman.

income proof from agriculture

Maximum Amount 

Maximum loan upto 50 LACS

80% of cost of vehicles.

Period

60 Months 

Repayment

Monthly EMI

Rate of Interest

The rates of interest are as fixed by the Bank from time to time.

Sureties 

Two Guarantor from Banks "A" class member. And Borrowers Net Income / Salary and surety of loans.

Processing Charges

As per processing charges rule

Limitation

75% of Security Price

Sanctioning Authority

Branch Manager

Document and Process

Opening of saving a/c

Preparation of Loan Application form

Two Guarantors.

Salary sheet, Income tax form, balance sheet

Mortgage of vehicle, R.C. /  T.C. book

No dues of the other banks.

Duration of Sanction

Maximum one Day. (condition apply)