Vehicle loan

Vehicle loan

Eligibility of borrower
  • Having operative saving account of the bank
  • Having good reputation, experience, credit worthiness and profit making
  • Borrower must be member of the bank
  • Have sufficient score in CIC Reports
Purpose of loan Purchase of New vehicle - two wheeler and four wheeler
Proof of Identity PAN Card and Adhar card
Proof of Business Profit and loss statement, Balance Sheet, ITR Returns, Udyam portal registration, Food license (if applicable), GST Certificate
Proof of Address Copy of latest property electricity bill or tax bill In case of rental, copy of recent light bill as per addhar address or rent agreement
Quantum of finance 20% Down payment and 80% of the value of quotation of vehicle
Share linkage Share linkage of Rs. 1000
Repayment period Repayment in 60 months
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