Vehicle Loan

Vehicle loan     

TYPE Two Wheelar Four Wheelar Commercial vehicle JCB, POCKLAND, ANY OTHER INSTRUMENTAL VEHICLE
Purpose of loan Purchase of New Vehicle IPurchase of New Vehicle Purchase of New Vehicle Purchase of New Vehicle
Age Limit Minimum 18 Years and 60 Years Minimum 18 Years and 60 Years Minimum 18 Years and 60 Years Minimum 18 Years and 60 Years
Rate of Interest         
Bank Finance 75% of Basic Vehicle cost + RTO Charges 75% of Basic Vehicle cost + RTO Charges 75% of Basic Vehicle cost + RTO Charges 75% of Basic Vehicle cost + RTO Charges
Margin 25% Basic Vehicle Price + RTO charges + other cost 25% Basic Vehicle Price + RTO charges + other cost 25% Basic Vehicle Price + RTO charges + other cost 25% Basic Vehicle Price + RTO charges + other cost
Limit of loan 1.  Maximum Rs. 1.00 lakh 1.  Maximum Rs. 25.00 lakh 1.  Maximum Rs. 25.00 lakh 1.  Maximum Rs. 25.00 lakh
Eligibility Criteria 1.Salaried Employees/ Businessmen /Professionals having a regular source of income 1.Salaried Employees/ Businessmen /Professionals having a regular source of income 1.Businessmen /Professionals having a regular source of income 1.Businessmen /Professionals having a regular source of income
Repayment period Maximum 3 years for salaried class/Businessmen/Professionals. Maximum 5 years for salaried class/Businessmen/Professionals. Maximum 5 -7 years for Businessmen / Professionals. Maximum 5 -7 years for Businessmen / Professionals.
Process fee 0.30% + service tax as applicable from time to time, (subject to a Maximum of Rs.1,500/- + ST 0.30% + service tax as applicable from time to time, (subject to a Maximum of Rs.20,000/- + ST 0.30% + service tax as applicable from time to time, (subject to a Maximum of Rs.20,000/- + ST 0.30% + service tax as applicable from time to time, (subject to a Maximum of Rs.20,000/- + ST
Security related information Hypothication of Vehicle Hypothication of Vehicle Hypothication of Vehicle Hypothication of Vehicle
Collateral Security NOT TAKEN FOR TWO WHEELAR LOAN Registered Mortgage of roperty 15 lakhs and above case Registered Mortgage of roperty 15 lakhs and above case Registered Mortgage of roperty 15 lakhs and above case
Legal & Documentation Charges LOAN AGGREEMENT AND RTO FORM 26,28,29,30,34 SING BY BORROWAR LOAN AGGREEMENT AND RTO FORM 26,28,29,30,34 SING BY BORROWAR LOAN AGGREEMENT AND RTO FORM 26,28,29,30,34 SING BY BORROWAR LOAN AGGREEMENT AND RTO FORM 26,28,29,30,34 SING BY BORROWAR
Document required 1. Duly filled and sing by prescribed application form Borrowar, Gaurantor. 2. Latest 2 Photograph, KYC : Photo Identity Proof, Residence proof of the Borrowar, Co Borrowar and Guarantors 3. Salaried: salary slip for last 3 months and bank statement for last 12 months, ITR or form 16 last Two years 4. Businessman: Both Borrowar and Guarantor last 3 years CA Certified profit & loss and balance sheet, ITR copies, Tax Audit Report (If Require) 12 months bank accounts statement.
Share Linking Basic Amount + 2.50% Fixed Deposits loan value Basic Amount + 2.50% Fixed Deposits loan value Basic Amount + 2.50% Fixed Deposits loan value Basic Amount + 2.50% Fixed Deposits loan value

 

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