Features

Loan Tenure Duration :

• Loan Limit : 80% of Quotation (including Insurance & Tax Amount) Maximum Loan Amount Rs.3 Lakhs for Two-wheelers & Rs.40 Lakhs for Four-wheelers
• For old Four Wheeler vehicle : 70% of valuation of amount (within 2 years old vehicle only) and 50% to 60% of Valuation (within 3 years old) or maximum Rs.15 lakhs
• For New Two-wheeler Vehicles – 60 Months & For Battery vehicles – 36 Months
  For New Four-wheeler Vehicles – 84 Months & For New Battery Vehicles – 60 Months
  For old Four Wheeler Vehicles – 60 Months
• Vehicle Loan ROI : 8.99% (for both Two Wheeler & Four Wheeler New Vehicle and for Loan Amount upto Rs.25 Lakhs)
• Vehicle Loan ROI : 11.25% (for New Four Wheeler Vehicle and for Loan Amount above Rs.25 Lakhs)
• Vehicle Loan ROI : 11.50% (for Old Four Wheeler Vehicle and for Loan Amount above Rs.25 Lakhs)
• Loan Limit : 90% of Quotation (including Ex-Showroom Price + RTO Registration + Insurance)

Eligibility

For Salaried Persons :

• i. Employees of reputed and financially sound organization.
• ii. Salary undertaking from the Company

For Businessmen & Professionals:

• Business should have establishment of minimum of 3 years.

Documents

Duly filled form with :

• Income Proof of Applicant & Guarantor
• Residential Proof of Applicant & Guarantor
• Original Quotation / Invoice
• KYC of Applicant and Guarantors
• PAN Card of Applicant & Guarantor

Prime Security :

• Purchased vehicle to be hypothecated in Bank’s name.

Guarantors :

• Two Financial strong Guarantors Required

Other Charges

• One Upfront EMI, Franking Charges, Insurance of vehicle, etc

Borrower & Guarantors :

• Regular Membership fees @ 2.5% of loan amount
  Regular Membership – For Loan Amount above Rs. 1 Lakh