VVCC Bank| SMSBanking
VVCC Bank| SMSBanking
Commercial Vehicle Loan

Commercial Vehicle Loan
Rate Of Interest :10.50 % (WEF 01-11-2018)

Terms and Conditions:

  • Hypothecation of Vehicle
  • Up to 70.00 % of On Road Value of Quotation
  • Re-Payment Period up to 48 Months
  • KYC Documents with 2 Latest Photographs
  • 3 Yrs. I.T. Returns / Balance Sheet/ Last 3 Months Salary Slip and Statement of Net worth.
  • Last 2 Yrs. Bank Account Statements.
  • 2 Guarantors required with KYC and Statement of Net worth.
  • Additional Shares (Linking Shares) to be taken @ 01.00% of sanctioned Limit.
  • Linking Share amount will be adjusted/refunded at the time of closer of loan account
  • Dividend on linking Shares will be transferred in account as and when declared by the board.
  • Penal interest @2% extra will be charged in case of irregular A/cs.
  • Principal / Collateral Security must be covered by insurance.

VVCC Bank| SMSBanking