Purpose
Vehicle Loan :
Sub product of Loan: The loan products can be categorized broadly into the following types.
Definitions of major loan schemes are as new vehicle, New Commercial vehicle, and two wheeler :
Eligibility:
Individuals eligible for Vehicle Loan include:
Salaried, SEP – Self Employed Professional, SENP – Self Employed Non-Professional, Women, Private limited / Public limited companies, Proprietor, Partnership firms.
Exclusions: Share Broker, Speculative transactions.
Eligibility Age:
21 to 60 Years
Loan Amount:
A. 80% of cost of Two Wheeler
B. 75% of cost of Four Wheeler
C. 75% of cost of Commercial Vehicle
Loan Period:
• Two Wheeler: 36 Months
• Four Wheeler: 84 Months
• Commercial Vehicle: 60 to 84 Months
Individuals eligible for Vehicle Loan include:
Salaried, SEP – Self Employed Professional, SENP – Self Employed Non-Professional, Women, Private limited / Public limited companies, Proprietor, Partnership firms.
Exclusions: Share Broker, Speculative transactions.
Eligibility Age:
21 to 60 Years
Loan Amount:
A. 80% of cost of Two Wheeler
B. 75% of cost of Four Wheeler
C. 75% of cost of Commercial Vehicle
Loan Period:
• Two Wheeler: 36 Months
• Four Wheeler: 84 Months
• Commercial Vehicle: 60 to 84 Months
Security:
Hypothecation of the vehicle to be purchased.
Guarantor:
Guarantor or co-applicant may be required depending on customer profile and product.
CIBIL Report of all guarantors to be obtained.
Required Documents:
Hypothecation of the vehicle to be purchased.
Guarantor:
Guarantor or co-applicant may be required depending on customer profile and product.
CIBIL Report of all guarantors to be obtained.
Required Documents:
- Vehicle Loan Application Form
- Passport Size Photographs
- KYC Documents:
- Identity Proof
- Residence Proof
- Leave & License Agreement (if currently staying on rent)
- Signature Proof
- Employment Identity Card
- Age Proof
- For Business/Profession: Copy of Shop and Establishment Act Licenses, VAT/TIN/TAN/MST/CST No., Goods and Services Tax Registration
- Copy of Degree Certificate (in case of Professionals)