Pusad Urban Bank
 
Vehicle Loan
 
Eligibility
  • Age between 18 to 60 years
  • The applicant should have valid driving license.
Membership
  • Incase of purchase of four wheeler permanent membership.
  • Incase of two wheeler nominal membership.
Basis for deciding loan limit
  • Margin money shall be 25% to 40%.
  • The repayment capacity can be decided on net take home salary incase of service person.
  • Incase case of business man, professionals net profit will be consider
Fees and Charge
  • 2.5% Linking sgares
  • Processing fees as per the Bank Rule
  • Stamp duty as per Bank Rule.
Documents required
  • Quotation for vehicle.
  • Salary certificate.
  • Income tax returns
  • Balance Sheet.
  • Driving License.
  • Two passport size photo graphs.
  • Proof of residence
Guarantors
  • Two guarantors with good network..
  • Should not be defaulter of Bank. .
Collateral security
  • Collateral security may be taken if required.
  • Liquid security like fixed deposit, NSC, LIC policy.
Interest Rate
  • Interest will be charge on monthly basis as per the prevailing rate.
  • penal interest 2% will be charged in case of default.
 
 
 
       
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