Commercial Vehicle Loan @10.70% (WEF 01-04-2024)
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. Said Facility available for second hand Vehicle up-to 3 Yrs. old. Margin at 40.00%, @ 11.70% (WEF 01-04-2024)