|Eligibility||Member /Nominal member of the bank.|
|Purpose||For purchase of New/Old vehicle not older than 3 years for personal use.|
|Margin||20% of the total original cost of new vehicle and 50% of market value of old vehicles as assessed by the bank's approved valuer.|
|Repayment||For New vehicle: 60 equated monthly installments For Old vehicle : 3 Years
Note: Loans for purchase of commercial vehicles, observe all the above conditions in addition to obtaining permit and margin will be 35%.
The Malad Sahakari Sahakari Bank Ltd is registered with DICGC