GST No.: 24AABAT4356N1Z6               

Two Wheeler Loan

Eligibility of borrower
  • Must be complied with the norms of KYC and having current or savings account with the Bank.
  • Must have a valid driving license in his own name.
  • Must be a regular or nominal member of the Bank.
  • Should have his own / family member's / guarantor's residential or business property in their name in municipal record.
  • Having sufficient score in CIC's reports
Purpose of Loan
  • Purchase of New vehicle [ 2 wheeler ]
Quantum of finance
  • Authorized dealers' price quotation
  • Up to 85 % of quotation value [ Basic price + RTO registration fee + Insurance + Vehicle tax ]
  • In case of margin money deposited as fixed deposit under lien with the bank, loan may be considered at 100% of quotation value.
Repayment period
  • Maximum 48  months.
Rate of Interest 13.50%  p. a.
Security
  • Hypothecation of vehicle in favour of Bank
  • Blank TTO form duly signed by the borrower.
  • Copy of R.C. Book marked with HP clause in favour of the Bank OR HP certificate issued by RTO is to be obtain.
  • Vehicle must be fully insured with HP clause in favour of the Bank
  • One personal guarantor [ If borrower himself a property holder ]
  • If borrower does not have any property in his own or family member’s name then two personal guarantor is to be obtain and out of which one guarantor must be a property holder.

 Two Vehical Loan