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Our Important Services

Vehicle Loan

  • 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).
PURPOSE REPAYMENT PERIOD
  2 WHEELER 4 WHEELER
Domestic (Personal Use) Upto 60 Months (Max) Upto 60 Months (Max)
Commercial (Heavy) Use - Upto 36 Months (Max)

MARGINS:-

Vehicle Loan

  1. 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%).
  1. For purchase of New Commercial (Heavy) Vehicles:
  • 10% of quotation – for period upto 36 months (Max) (Loan sanctioned upto 90%).
  1. 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%)

DOCUMENTATION:-

  • 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.

Click Here to view Loan Policy/Loan Rules