Loan granted to third category to transport operator/ purchase of commercial vehicle, truck tipper, taxi, auto rickshaw, private vehicles including two wheeler.
The limit under this category of finance is restricted to 5% of NDTL of the bank.
To purchase new four wheeler for personal use. to purchase second hand four wheeler (up to 3 years old only) for personal use.
1. For salaried persons:
● Employees of reputed and financially sound organisation.
● Minimum gross take home salary of INR. 15000/- pm and confirmed service for atleast one year.
2. For businessmen & professionals :
● Business should have establishment of minimum of three years.
1. Duly filled form with :
● Income proof of applicant(s) & guarantor(s)
● Residential proof of applicant(s) & guarantor(s)
● Original quotation / invoice from authorised dealer
● Pan card of applicant(s) & guarantor(s)
● KYC of applicant(s) & guarantor(s)
2. New/old vehicle to be purchased prime security is required
3. two acceptable guarantors
4. Other charges: one upfront EMI, franking charges, ROC & notary charges etc.
1. Borrower & co-borrower : regular membership fees @2.5% of loan amount (maxi.rs.15.00 lakh)
2. Guarantors : nominal membership
3. Nominal membership (for loan upto 1.00 lakh)
Maximum 40-60 months for two wheeler, and 84 months for private vehicle or
1. Till the retirement age if salaried whichever is earlier.
2. In case of old vehicle upto 3 years only, maximum repayment tenure upto 36 months.
No Pre-Payment Penalty.
Rate of interest : is applicable from time to time.
Service charges : are applicable from time to time.
Margin : is applicable from time to time.
Harbour Crest, Mazgaon T.T., Mumbai - 400 010.
+91-22 2372 3753, 2372 9969, 2637 9971, 2373 4202, 2373 4311