Eligibility | Nominal member of the bank |
---|---|
Purpose | Purpose For purchase of New Vehicle (Two Wheelers) for personal use. |
Amount | Maximum Rs.1,00,000/- |
Margin | 5% - For Existing Clients with good Track Record 10 % - New Clients |
Repayment | 24 equated monthly instalments |
Processing Fees | Nil - Existing Clients Rs.500/- plus Tax - For New Clients |
Rate of Interest | 9.50 % p.a (Existing is 10.50%) |
Disbursement | Direct to the Dealer along with margin money. Otherwise Margin Money receipt in Original to be obtained. |
Security | Hypothecation of Vehicle |
Guarantors | One Guarantor acceptable to the Bank (Outside the family Guarantor compulsory) |
Documentation |
|
Miscellaneous | |
Sanctioning Authority | Branch Manager/Branch Incharge |
The Malad Sahakari Sahakari Bank Ltd is registered with DICGC
(https://www.dicgc.org.in)