Vehicle Loans

 
VEHICLE LOANS
PARAMETERS VEHICLE LOANS VIP CAR LOANS
Eligible borrower Individuals, Institutions, Firms, Companies

1. Depositors having term deposits of not less than Rs. 25 lakhs in his / her own name or jointly with family members for the last one year.

2. Existing customer of the bank with fund based advance of not less than Rs 25 lakhs for a minimum period of one year.

Purpose Acquisition of non-commercial motor vehicles (Car, Jeep, Van, Two wheeler etc)
Quantum of finance 80% of on the road cost including Invoice price, Road tax, Insurance Premium and Registration charges (subject to income wise eligibility) 100% of invoice value excluding Insurance, Registration, Road Tax and other incidental charges.
Guarantee Minimum one person Not compulsory
Maximum Tenure Upto 5 years Upto 5 years
Income Proof

1. Latest Salary slip / certificate

OR

2. Latest IT Return with computation

OR

3. Self-declaration by borrower (if fully covered by collateral security)

Latest one year account statement
Security Hypothecation of the vehicle