|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|
1. Latest Salary slip / certificate
2. Latest IT Return with computation
3. Self-declaration by borrower (if fully covered by collateral security)
|Latest one year account statement|
|Security||Hypothecation of the vehicle|