- Purchase of Two Wheeler
- All Salaried class people.
- Professionals, Self employed and Retail Traders.
Limit
- 90% of cost of vehicle (excluding RTO tax insurance and accessories ) of 8 times of monthly Gross Salary or Rs. 1,00,000/- whichever is less.
Margin
- 10% of cost of vehicle
Repayment
- -60 monthly installments.
Other Conditions
- Total deductions including proposed loan installment should not be more than 60% of monthly gross salary income.
- The latest salary certificate duly signed by the competent authority to be obtained as per bank’s proforma.
- In case of professionals, self employed persons and retail traders the applicant should have adequate source of income to repay bank installments.
- A declaration from the borrowers about the vehicle under pledge/hypothecation to the bank as security for repayment of the above said term loan to be filled in after purchase of vehicle and submission of bills- Annexure-A.
- Two blank T.O./T.T.O. forms signed by the borrowers (Form No. 29/30)
- Two blank form No. 26 to be signed by the borrower / owner of the vehicle, required in case of lost/misplaced R.C. book.
- Form No. 34 to be signed by borrower/owner of the vehicle, for entering Hypothecation of bank, with R.T.O., in case if party has not entered hypothecation of bank.
- Comprehensive Insurance policy to be assigned in favour of our Bank.