Vehicle loan

Vehicle Loan

For 4 wheelers

Vehicle Loan

Parameter	Details
Loan Amount	Finance up to Rs.35 Lacs
Maximum Tenor & Rate of Interest	10 Years, 13%-14% p.a.
Margin	25% (on Road price after deducting Accessories amount)
Guarantor	Two
Prepayment Charges	3% + applicable G.S.T.
Processing Fees	@ 1 % of loan amount + applicable G.S.T.
Share Holding	@ 2.5% of Loan
Security	New vehicle to be purchased
Insurance	Insurance cover of Bike/ Car as per bank’s policy.
Other Conditions	Any other documents as required by the bank at later stage.

Documents Required:

Loan application
Latest Photograph Applicant
PAN Card of Applicant
Address proof of Applicant
Quotation of New Vehicle
Latest Income Proof of Applicant
In Case of Salaried Person: Salary slip of last 3 months, Bank a/c statement for last 6 months where salary is credited, Form No 16 / ITR for last 3 financial years.
In case of Businessman: Proof of Business (Shop Act, Food & Drugs License etc. as per applicability), Last 3 years ITR, P& L a/c, Balance sheet, Last 6 months bank statement of business.