Vehicle Loan

  • Hire Purchase Loan is available for purchase of two wheelers, four wheelers and Commercial vehicles.

Applicant details :

  • Applicant’s three years Income tax Return / Payslip of last two years and Form 16 Issue by compare 3 months / Notarized income certificate for joint family.
  • Last tax bill / certificate from society chairman/Secretary if applicant owned property
  • Quotation of vehicle
  • Applicant has to show all original documents to the bank for verification with xerox copy. Original documents will be returned to applicant after verification.

Guarantor Details

  • Photograph-2 copies
  • Last tax bill + Receipt of Paid
  • Last 3 year income tax return copy + Receipt of paid 
  • Address proof – electric bill / telephone bill
  • Photo proof – Pan card / Voter card / Driving license/Aadhar card

Conditions

  • We give loan up to 85% to 90% of quotation amount.
  • Applicant has to take insurance of full value of vehicle in favour of bank.
  • The Loan for two wheelers, four wheelers will be repaid with interest in 60 equal monthly instalments.
  • 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 Original copy of invoice, receipt / Xerox copy, insurance policy, RTO book showing Bank's lien recorded with RTO.
  • Applicant has to take share @ 1.00% of the limit.
  • Insurance policy of vehicle to renewal on due date every time till the loan is continued and submit to bank.

Requirement Documents

Valid Photo I.D.(Any One) Address Proof (Any One)
Adhar Card Adhar Card
Pan Card Electricity Bill (not more than 6 months old)
Voter ID Card Municipal Tax Bill
Pass Port Gas Bill  / Telephone Bill :Latest
College / School ID Card Latest LIC Primium Receipt
Government / Semi Government ID Card Other Bank Passbook
  • Passport Size Photograph 2 Copies
  • Birth Certificate for minor account
  • Introduction From Existing account Holder