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Vehicle Loan - Get Two Wheeler, Four Wheeler(Car Loan) & Commercial Vehicle Loan
A perfect way to get your dream vehicle. With our vehicle loan facility, we provide you with the power to purchase the vehicle you are planning to buy. We are more than happy to help you buy a two-wheeler, four-wheeler, commercial vehicle like a truck or JCB, or even a used vehicle with a quick disbursement of the loan.
The extent loan amount for new vehicles, for own personal use, is a maximum of 85% of the cost of the vehicle (Ex-Showroom+RTO+insurance), and for a used vehicle that is not more than three years old is a maximum of 70% of the value of the vehicle.
The extent loan amount for new vehicles, for own personal use, is a maximum of 85% of the cost of the vehicle (Ex-Showroom+RTO+insurance), and for a used vehicle that is not more than three years old is a maximum of 70% of the value of the vehicle.
- Fixed Rate of Interest
- Complete Guidance
- No Foreclosure Charges
- Hassle-free Process
- Quick Funding
- Flexible repayment options
Simple Eligibility
There is a very simple criteria for the easy sanctioning of the vehicle loan. The applicant must have an assured monthly income to repay the loan. In the case of taxis/auto-rickshaws, a permit from RTO is required to get faster approval of the loan. Anyone meeting these criteria is eligible to get their desired vehicle loan.
Achieve Dream Milestones
With low-interest rates, quick loan disbursement, easy loan application and flexible loan repayment options, we make it very easy for you to help own your dream vehicle. So if you’re looking for swift and hassle-free access to a vehicle loan, connect with our branch.
01. What documents are required for vehicle loan?
Checklist:
Documents to be obtained for processing of Vehicle loan application-
Applicant
1. Profile of applicant
2. Latest Original copy of Quotation
3. Registration under shop and establishment Act & Registrations Certificate under GST
4. KYC documents (Latest Photo, Copy of Latest Utility bill (link document in case of rented premises), Aadhar card and Pan Card.
5. Provisional financials for current financial year
6. Last three years ITR computation of income & balance sheet [last three years ITR computation & form 16 for salaried]
7. Last one year bank account statement (all saving as well as current bank accounts maintained)
8. Latest Net worth statement (in case of loan amount of Rs. 25.00 Lakhs & above)
9. Certificate for statutory dues from Chartered accountant (in case loan amount is Rs. 50.00 Lakhs & above)
10. Details of all live loan accounts along with sanction letter & statement (NOC if any account is reported as closed)
Guarantor (one or two as applicable)
1. Profile and KYC documents of guarantor (Latest Photo, Copy of Latest Utility bill (link document in case of rented premises), Aadhar card and Pan Card.
2. Last three years ITR computation of income & balance sheet [last three years ITR computation & form 16 for salaried]
3. Last one year bank account statement (all saving as well as current bank accounts maintained)
4. Latest Net worth statement (in case of loan amount of Rs. 25.00 Lakhs & above)
5. Details of all live loan accounts along with sanction letter & statement (NOC is any account is reported as closed)
Note:
1. All documents should be self attested
2. KYC should be verified from originals
02. What is the repayment tenure offered?
We offer flexible repayment options of a maximum of up to 36 months for two-wheelers, a maximum of up to 84 months for four-wheelers, a maximum of up to 60 months for commercial vehicles like trucks & JCBs and a maximum of up to 36 months for used vehicles.
03. What are other conditions that one should know before applying for a vehicle loan?
There are a few conditions that you should know. Processing/Scrutiny charges are 1.15% of the loan amount or as per the sanctioned terms. The borrower will be required to purchase the shares of the Bank (as per sanction terms). Follow registration of charge with RTO with Bank Clause and insurance of the vehicle with bank clause.
We will need a guarantee from one suitable guarantor having good means/net worth(a guarantee from family members will also be accepted). Insurance and other documentation charges are applied.
We will need a guarantee from one suitable guarantor having good means/net worth(a guarantee from family members will also be accepted). Insurance and other documentation charges are applied.