|Eligibility of borrower||* Having current / saving account holder of the Bank.
* Borrower must be a member of the Bank.
* Last three years income-tax return should be produced.
* Borrowers should have his own/ family member's residential or business property in their name in the Govt./ SMC record.
|Purpose of Loan||Purchase of new vehicles only.|
|Quantum of finance||* Maximum up to 90% of quotation value.
* In case of margin money deposited in fixed deposit with the bank, loan may be considered at 100% of quotation value
|Share Linkage||Borrower must have Bank share Linkage @ 1% of the loan sanction amount.|
|Repayment period||Maximum 60 months.|
|Rate of Interest||9.5% p. a.|
|Security||* One personal guarantor having his own property and last year's income-tax return.
* R.C. Book have to be deposited with the Bank.
|Vehicle to be insured comprehensively with Bank clause.|