Vehicle Loan

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. 2,50,000.00 or 80% of Vehicle invoice value, Road Tax, Insurance , whichever is less for 2 Wheelers. 
• Maximum of Rs. 20,000,00.00 or 80% of Vehicle invoice value, Road Tax, Insurance , whichever is less for new car/Jeep or Van.
  
  Rate of Interest : 10.00% per annum

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.