Vehicle Loan - Personal Use

For Salaried employees, businessman, self-employed
Type of loan Term loan
Purpose For acquiring own vehicle for personal
Use (two wheeler/four wheeler)
Repayment 60 months
Mode of Repayment Standing instruction from our Bank Account , Debit ECS/Salary deduction from employer
Margin 30 % in favour of bank on Authorized Dealer quotation (Ex showroom + Registration + Insurance) for New Vehicle
50% of Valuation of vehicle in favour of bank( For Second sale / Old Vehicles )
Rate of interest For four wheeler 10.00 %
For two wheeler 11.00 %
9.50 % for existing customers whose outstanding as on date is more than Rs.25.00 Lakhs
Who can borrow Salaried employees, businessman, self-employed
Loan amount Collateral security is required to be provided for Loan amount of more than Rs.25.00 lakhs.
Security Hypothecation of vehicle for Loan amount upto Rs.10.00 Lakhs
Hypothecation of vehicle and Collateral security ( Immovable property / Govt . Securities such as NSC/KVP ,LIC policy and Term deposit of our Bank ) for Loan amount more than Rs.10.00 Lakhs .
Collateral Not required
Guarantors Two acceptable guarantors
Subscription of bank's shares 2.5 % of the loan amount Bank's shares
Processing charges 0.50% of sanctioned loan amount
Other charges As per Bank's policy
Pre-payment charges No pre closure charges


12.5% for Stock & Book Depts, 12% for Stock, Book depts & 60% Colleteral


To meet expenses for pursuing higher Education , at India or abroad. Graduation / post-gradution / medical Dental / engineering / management / law Pilot / air hostess | 10.75 % to 12.00 %