Vehicle loans
Home » Loans » Vehicle loans

  • Vehicle Loan is available for purchase of two wheelers, three wheelers and for Commercial vehicles and also for purchase of two years old car with good condition
Applicant details:
  • Applicant’s 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
  • 3 Photographs of Applicant
  • Address proof – electric bill /telephone bill (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.
Guarantor Details
  • Photograph-2 copies
  • Last tax bill
  • Last income tax return copy
  • Address proof – electric bill /telephone bill (any one)
  • Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)
Conditions
  • We give loan up to 80% of quotation of basic price. for transport/ commercial vehical Bank will give loan upto 70% of quotation of basic price.
  • Applicant has to take insurance of full value of vehicle in favour of bank.
  • The Loan for two wheelers, three 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 @ 1%/2%/2.5% of the limit.
Type of loan/Advances Margin Interest rate
Vehicle Loan
Individuals :Two Wheelar,
Four Wheelar
Commercial Vehicle


10 %
10%
30 %



14 %
10%
14 %