Vehicle Loan

  • Hire Purchase Auto Loan is available for purchase of two wheelers, four wheelers and for Commercial vehicles and also for purchase of three years old car with good condition.

  • Applicant details :

  • Applicant’s last two years Income tax Return / Payslip of last 3 months / Notarized income certificate for joint family.
  • Last tax bill / certificate from society chairman/Secretary if applicant owned property
  • 3 Photographs of Applicant
  • Address proof – electric bill /telephone bill (any one) As per KYC norms
  • Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one) As per KYC norms
  • Bank Statement of last 2 years
  • Quotation of vehicle
  • Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.

  • Guarantor Details :

  • Photograph-two copies
  • Last tax bill
  • Last 2 years income tax return copy
  • Address proof – electric bill /telephone bill (any one)
  • Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)

  • Conditions :

  • Bank will give loan up to 80% of quotation. [basic price only]
  • Applicant has to take insurance of full value of vehicle in favour of bank.
  • The Loan for two wheelers will be repaid with interest in 48 equal monthly instalments for new vehicle. 36 months for 2nd hand vehicle.
  • Applicant have to pay margin amount to the bank. Bank will issue Banker cheque of full amount in the name of dealer.
  • Applicant have to submit Xerox copy of invoice, receipt, insurance policy, RTO book showing Bank's lien recorded with RTO.
  • Applicant has to take share @ 2.5% of the limit.
  • The processing charges 0.25% will be levied on sanction.