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Auto Loan 2 Wheeler & 4 Wheeler

Vehicle/Transport Loan

Nature of Loan Term Loan
Tenure of Loan Maximum 07 Years, for staff 08 Years
Eligible borrower Individuals as well as business concern (Corporate / Non Corporate)
Age 65 Years

(i)    For Purchase of Indigenous / foreign makes car,Jeep / Multi Utility vehicle (MUV) & Sports Utility Vehicle (SUV) etc.

(ii)   For Purchase of Indigenous heavy vehicles

Loan Amount Ceiling

Rs.75.00 Lacs

For Staff 25 times of gross salary with the restriction at the deductions should not exceed 50% of the gross salary.

Analysis of loan As per bank policy/ Naik Committee
Margin of Borrower 15% of on road pro forma invoice of the vehicle.
Security The vehicle purchased with the mountof loan is to be hypothecated to the Bank. It will be registered in    the name of the borrower & hypothecated in the name of the Bank.            .
Documentation required As per the requirement in the loan file check list



The Staff shall be entitled to take loan for the purchase of new four wheeler vehicle, after 03 years from the date of purchase of earlier vehicle. The said facility will be available only after the closer of the previous four wheeler vehicle loan Account.