Vehicle Loan

• Vehicle Loan For A-Class Members Of the Bank @ 12.6% For 7-Years, Repayments as EMI.
• Loan up to a maximum of Rs. 10 lakhs is allowed on property pledges / fixed deposits. However, Government / Half Government Employees / Teachers will be allowed up to Rs.5 lakhs for vehicle loans only on the pledge of the salary certificate.
• A borrower who takes out a loan on property pledges will be allowed to pay the vehicle loan if he pays 25% of the property pledge loan. The loan amount will be allotted only for lesser amount, which is either the requested amount or 80% of the vehicle price.
• A female member is granted upto 50,000 / – on the bail of another female member.
• Government employees will be given loans up to Rs 2 lakh on their own bail and Rs 5 lakh on the bail of another employee. The loan given is twenty times the net salary.
• Investors who are Class A members of the bank can avail loans up to 125% of the deposit.
• The vehicle loan term is 84 months. But when the loan is granted to employees, the loan should end 2 months before the retirement date.
• Insurance / tax / registration fees are not considered vehicle cost on the loan of the applicant.
• 13% interest on fixed deposit vehicle loan and 14% interest on other pledged auto loan and rebate at the rate allowed for ordinary borrowers

NB: Find the Up-to-date and Attractive Interest Rates for the Loans and Deposits, that suits your customized needs; From ‘Rates & Charges‘ Section.