page-banner

Vehicle Loan

Applicant details

  • Applicant last two years Income tax Return / Payslip of last 3 months / Notarized income certificate for joint family.
  • Last tax bill / certificate from Society Chairman/Secretary if applicant owned property
  • Applicant should have Savings/ current Bank account with the bank.
  • Applicant Pan card
  • 3 Photographs of Applicant
  • Address proof Electric bill/ Telephone bill -land line (any one) As per KYC norms
  • Photo proof Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms
  • Quotation of vehicle
  • Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
  • Applicant must have a Driving License

Guarantor Details

  • Photograph-2 copies
  • Last tax bill
  • Last income tax return copy
  • Address proof electric bill /telephone bill -land line (any one)
  • Photo proof Pan card / Voter card / Driving license/Aadhar card (Any one)

Conditions

  • Bank will give loan up to 80% of quotation.
  • Applicant has to take insurance of full value of vehicle in favour of bank.
  • The Loan for two wheelers will be repaid with interest in 36 to 60 equal monthly instalments.
  • Applicant have to pay margin amount to the bank. Bank will issue Banker cheque of full amount in the name of dealer.
  • Applicant have to submit Xerox copy of invoice, receipt, insurance policy, RTO book showing Bank's lien recorded with RTO.
  • Applicant has to take share @ 2.5% to 5.0% of the limit.
  • The processing charges from 300 Rs. to 1000 Rs. will be levied on sanction.