Auto Loan
| Purpose | Financing on vehicle for personal use. |
| Financing Ratio: | Maximum 90% of the value of the vehicle. |
| Nature | Non-revolving & non-renewable. |
| Disbursement | Full amount after taking charge on vehicle and obtaining insurance policy, for releasing payment to the vendor. |
| Principal Repayment | On equated monthly installment basis (EMI). |
| Interest Repayment: | On quarterly basis or on installment payment date. |
| Security: | Charge on the financed vehicle by taking titleship on bank’s name. |
| Tenure: | Maximum 8 years |
Required Documents:
- Loan Application
- Monthly income supporting document
- Vehicle Invoice
- In case of business Vehicle, Route permit
- Citizenship of borrower
- Family details of borrower
- Other documents based on requirement
For more details , contact your nearest branch. We are ready to serve your banking needs. " The bank for everyone".
