7 days to 45 days
46 days to 180 days
181 days to 1 year
@ 8.75%* To 10%
- Hire Purchase Loan is available for purchase of two wheeler and four wheeler Vehicle.
- Applicant’s last two years Income tax Return / Payslip of last 3 months / Notarized income certificate for joint family
- Last tax bill / certificate from Society Chairman/Secretary if applicant owned property
- Applicant should have Savings/ current Bank account with the bank
- Applicant’s Pan card and Aadhar card.
- 3 Photographs of Applicant.
- Address proof – Electric bill/ Telephone bill -land line (any one) As per KYC norms
- Quotation of vehicle
- Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
- Applicant must have a Driving License.
- Photograph-2 copies
- Last tax bill
- Last income tax return copy
- Address proof – electric bill /telephone bill -land line/Gas bill (any one)
- Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)
- Bank will give loan up to 75% of quotation.
- Applicant has to take insurance of full value of vehicle in favour of bank.
- The Loan will be repaid with interest in 36 to 60 equal monthly instalments.
- Applicant have to pay margin amount to the bank. Bank will issue Banker cheque of full amount in the name of dealer.
- Applicant have to submit Xerox copy of invoice, receipt, insurance policy, RTO book showing Bank's lien recorded with RTO.
- Applicant has to take share @ 2.5% of the limit.
- The processing charges will be 1% of loan amount Sanction.