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.