हिंदी वेबसाईट

Vehicle Loan - Two Wheelers

EligibilityNominal member of the bank
PurposePurpose For purchase of New Vehicle (Two Wheelers) for personal use.
AmountMaximum Rs.1,00,000/-
Margin5% - For Existing Clients with good Track Record
10 % - New Clients
Repayment24 equated monthly instalments
Processing Fees Nil - Existing Clients
Rs.500/- plus Tax - For New Clients
Rate of Interest9.50 % p.a (Existing is 10.50%)
DisbursementDirect to the Dealer along with margin money. Otherwise Margin Money receipt in Original to be obtained.
SecurityHypothecation of Vehicle
GuarantorsOne Guarantor acceptable to the Bank (Outside the family Guarantor compulsory)
Documentation
  1. The vehicle shall be insured comprehensively with Bank's HPA clause
  2. Duplicate key/s of the vehicle shall be deposited with the bank.
  3. Certified Xerox copy of R.C. cum-Taxation Book and Insurance Policy shall be obtained. duly noted HPA.
  4. Post disbursement Inspection Compulsory..
  5. Pro-forma Invoice/Bill of the dealer / seller and stamped receipt shall be obtained.
    • Residence proof & Photo Identity Proof of Borrower & Guarantors to beobtained.
    • Income Proof of Borrower & Guarantors to be obtained
    • Driving License.
    • Bank A/c Statement of Borrower for last 6 months.
    • Verify genuineness of dealer.
  6. Demand Promissory Note
  7. Undertaking by Borrower & Guarantors
  8. Loan Agreement
  9. Surety Bond
  10. Letter of Hypothecation
  11. Letter of Lien and Set-off
  12. Letter of Set- off and Appropriation
  13. Vehicle Transfer Set.
  14. Sec 49(3) letter to be taken if Salaried Person.
(Maximum - Rs.500/-)
Miscellaneous
Sanctioning AuthorityBranch Manager/Branch Incharge
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