- Hire Purchase Loan is available for purchase of two wheeler and four wheeler Vehicle.
REPAYMENT PERIOD :-
- Vehicle Loan (New Vehicles) :Upto 60 months (Maximum 60 months).
|2 WHEELER||4 WHEELER|
|Domestic (Personal Use)||Upto 60 Months (Max)||Upto 60 Months (Max)|
|Commercial (Heavy) Use||-||Upto 36 Months (Max)|
- For purchase of Domestic (Personal use) Vehicle:
- 10% of quotation – for period upto 24 months (Loan sanctioned upto 90%).
- 15% of quotation – for period of 25 months to 60 months (Loan sanctioned upto 85%).
- For purchase of New Commercial (Heavy) Vehicles:
- 10% of quotation – for period upto 36 months (Max) (Loan sanctioned upto 90%).
- Vehicle Loan (Two Wheeler):
- 20% of quotation – for periodupto 60 months (Max) (Loan sanctioned upto 80%).
Vehicle Refinance Loan (Pre-owned Vehicles):
- 40% of valuation by Govt. Approved valuers. (Loan sanctioned upto 60%)
- Pro-note, Loan Agreement, Vehicle Hypothecation Agreement, TTO Form, Registration of charge with RTO, Comprehensive insurance in favour of the Bank, Invoice/Bill in favour of the Bank.