Vehicle Loan PDF Print E-mail
The Bank provides loans to purchase two wheelers/four wheelers for personal use only.
Terms:
  • Any individual working and residing in Bangalore city is eligible for the loan.
  • Both the applicant and surety provider should b nominal members of the bank.
  • Any one of them should produce his salary certificate or IT returns with 3 years Balance sheet.
  • Maximum Rs. 1,50,000.00 or 75% of Vehicle invoice value, Road Tax, Insurance , whichever is less for 2 Wheelers. 
  • Maximum of Rs. 20,000,00.00 or 85% of Vehicle invoice value, Road Tax, Insurance , whichever is less for new car/Jeep or Van.
For 2 wheel vehicles:
 S. No. Repayment Period Amount in Rs. Rate of Interest P.A.
 1 36 Months Upto Rs. 1,50,000.00
 11.50%
 
For 4 wheel vehicles:
 S. No.Repayment PeriodAmount in Rs.Rate of Interest P.A.
 15 Years Up to 5 Lakhs  11.50%
 25 Years Above 5 Lakhs 12.00%
Processing Charges:
  • 1.00% of the loan amount.  
Documentation:
  • Application form.
  • Invoice/quotation.
  • Form No.29, Pro-note.
  • Agreement subject to hypothecation of vehicle in favour of bank.
  • Photo.
 
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