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Vehical Loan

Dummy content excellent means to grow your money over a period of time.Interest rates on fixed deposit schemes are generally higher than the interest on savings accounts. If you invest in fixed deposits, you can get higher returns for the same amount of money in a savings account in the same period of time.

Our bank offers several fixed deposit schemes to choose from, depending on your chosen preferred term period (short-term or long-term). This range of choices makes fixed deposits a convenient option for a range of investors, from salaried employees to self-employed professionals to senior citizens.

As low-risk instruments, fixed deposit investments offer both, security and competitive interest rates on your principal amount.

General Information

Maximum repayment period - 7 years or Age of 60 years (which ever less)

Rate of Interest

  • - For New: 8.40-8.50%
  • - For Old: 11-11.50%
  • - For Two Wheeler: 10%

3 The net monthly salary should not be less then Rs 6,000/-.

2 - Maximum Loan Amount:

5 Lac

3 - Maximum Period of Repayment :

- 5 Years/Period of Retirement (whichever less)

4 - Rate of Interest :

- 12-13%

Undernoted Paper Required for Teachers/ Employee 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 (Whose is salary drown through any of our Branches)

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- Revenue stamp-5

2- 2 stamp papers for Rs. 100/- each in Borrower's name.

3- Notarized affidavit as on Bank format with recent photo.

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.