Loan Against Vehicles For Personal Use
| Eligibility | Member /Nominal member of the bank. |
|---|---|
| Purpose | For purchase of New/Old vehicle not older than 3 years for personal use. |
| Amount | |
| 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%. |
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©2016 The Malad Sahakari Bank Limited.