Bank shall finance all types of “Vehicles”, to Members (both individuals and commercial entities), against hypothecation of the same.
- 10% of the ex-showroom price for purchase of Vehicle / car for personal use.
- 15% of the ex-showroom price in respect of commercial vehicle (Van, Taxi, Tempo, truck, buses etc.)
|For Salaried persons:
||Max. 72 equal monthly instalments
||Max. 60 equal monthly instalments
- No vehicle more than 3 years old shall be eligible for finance.
- Minimum Margin - 50% of the market value of the vehicle.
- Repayment period - Max. 36 equal monthly instalments.
- Maximum Limit of finance against Industrial Shares / Units of Mutual Funds shall be Rs.10.00 Lakh only (Rupees Ten Lakh Only).