Hire Purchase Loan is available for purchase of two wheeler and four wheeler Vehicle.

REPAYMENT PERIOD :- Vehicle Loan (New Vehicles) :Upto 60 months (Maximum 60 months).

MARGINS:-

Vehicle Loan

For purchase of Domestic (Personal use) Vehicle:

• 10% of quotation - for period upto 24 months (Loan sanctioned upto 90%).
• 15% of quotation - for period of 25 months to 60 months (Loan sanctioned upto 85%).

For purchase of New Commercial (Heavy) Vehicles:

• 10% of quotation - for period upto 36 months (Max) (Loan sanctioned upto 90%).

Vehicle Loan (Two Wheeler):

• 20% of quotation - for periodupto 60 months (Max) (Loan sanctioned upto 80%).

Vehicle Refinance Loan (Pre-owned Vehicles):

• 40% of valuation by Govt. Approved valuers. (Loan sanctioned upto 60%)

DOCUMENTATION:-

• Pro-note, Loan Agreement, Vehicle Hypothecation Agreement, TTO Form, Registration of charge with RTO, Comprehensive insurance in favour of the Bank, Invoice/Bill in favour of the Bank.