The Bank provides loans to purchase two wheelers/four wheelers for personal use only.
- 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 : 9.50% per annum
- 1.00% of the loan amount.
- Application form.
- Form No.29, Pro-note.
- Agreement subject to hypothecation of vehicle in favour of bank.