Vehicle Loan-VHL
Eligible category of borrowers
- Regular members of our bank only
Line of activity
- Persons engaged in business/professional services having good turnover/income.
Quantum of loan
- As mentioned in Interest chart
Repayment
- Monthly Installment + Interest
Rate of Interest
- As mentioned in Interest chart (Subject to changes / revision from time to time)
Purpose
- Purchase of Vehicle
Security
- Hypothecation of Vehicle to be purchased
Shares
- As applicable
Sureties
- 2 sureties who are necessarily to be Regular members / Nominal members of the bank. Spouse should become one of the sureties.
Other charges
- As applicable to other loans
Documents Required
- Specified loan application.
- Guarantor’s declaration form.
- Address and income proof of both borrower & sureties.
- Audited Financial statements, whenever necessary to be provided.
- All original property documents.
- Hypothecation agreement as applicable
- Any other letter/document related to the vehicle/activity/purpose as the case may be.
- Duplicate Key / RC book copy / Insurance of vehicle is to be provided.
For more details / clarification please contact your nearest branch.
Vehicle Loan-VHL
| AMOUNT | ROI |
|---|---|
| 2 Wheelers Up to Rs. 1 Lakh | 11.50% |
| 3 Wheelers Up to Rs. 1.5 Lakhs | 12.25% |
| 4 Wheelers Up to Rs. 25.00 Lakhs | 12.75% |
| For Heavy Transport Vehicles Up to Rs. 25.00 Lakhs | 13.25% |
