Two Wheeler Loan

Maximum amount:

80% of Cost of new vehicle inclusive of registration and Insurance charges or applied Amount. In case of resale vehicle, 50% of Valuation price or 75% agreement value which over is low.

Eligibility:

Salaried Person-Employee of reputed organization with confirmed service/Businessman- Sole Proprietor/Partnership Firm/Pvt. Ltd/Public Ltd. Company/Professional/Self Employed person/Partner/Director etc.

Margin:

20% to 50%.

Membership:

Regular Member of Bank.

Period:

Maximum 60 months in case of new Vehicle and 36 months to old Vehicle.

Guarantors:

Minimum two sureties maximum depends on merit of proposal

Security:

Hypothecation of concerned two wheeler.l

Interest Rate:

As per Bank Policy.

Service Charges:

Are applicable from time to time.

Documents Required:

Self certified KYC documents, Existing Bankers Statement for last one year Original Pay slips for last consecutive three months/Salary Certificate, form No-16 And/or IT Returns with computation of income and Financial statements for last three consecutive years. In case of Businessman/Self employed/Proprietor/Partner/ Director/Professional IT Returns are compulsory along with other necessary documents roforma Invoice of authorized dealer/Vehicle Purchase letter or agreement in case of old vehicle, Margin Money paid receipts and any other documents required on case to case basis