General Information
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Maximum repayment period - 7 years or Age of 60 years (which ever less)
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Rate of Interest - For New: 8.40-8.50%
For Old: 11-11.50%
For Two Wheeler: 10%
Under noted Documents Required for four wheeler / two wheeler Loan
A:- Before sanction of loan :-
1- 5 Passport size photographs.
2- Photo copy of proof of Identification ( Aadhar Card/ Voter ID/ Passport/Pan Card).
3- Photo copy of proof of Residence (Aadhar Card/electricity bill/Ceiling of gas connection / Passport etc).
4- Photo copy of Driving License.
5- Photo copy of Pan Card.
6- Account statement last six months / photocopy of passbook.
7- Income proof (Latest salary slip + Form-16 or ITR for Three Years with computation for businessmen & others.
8- Quotation of vehicle to be purchased duly signed by the applicant.
9- Two Guarantors required
Documents required from each guarantor
1- 3 Passport size photographs.
2- Photo copy of Identity & Address proof (As 2 & 3above).
3- Photo copy of Income/Net worth proof (Salary slip + form 16/
ITR last 3 years).
4- Account statement last six months /Photocopy of pass book.
note:- All documents must be Self attested.
B:- At the time Disbursement of loan :-
1- 5 Revenue stamp
2- 3 stamp papers for Rs. 100/- each in Borrower's name.
3- Notarized affidavit as on Bank format.
4- Form 34 & Form 35 (2 copy).
5- Saving Account in our bank.
6- Share money : 2.5% of loan amount
7- Charges as per Bank rule :-
(I)-Processing fees: 0. 5% of Loan amount + 18% GST (max. 20,000/- +
18% GST)
(II)-Application fees : 20/- + 18% GST
(III)-Membership fees : 10/- + 18% GST (each borrower)
(IV)-Nominal membership fees of both guarantors.
(V)-CIBIL Charges.