Vehicle Loan

Description

Purpose: For purchase of a brand new two-wheeler or bike for private use.

Eligibility: 21 years up to 70 years including repayment period.

Loan Amount: Maximum loan amount upto 10 Lac.

Facility: Term Loan

Interest Rate: Starting @ 7% p.a. vary based on CIBIL score of the applicant.

Repayment: Maximum 60 EMI

Security: As collateral, all bikes financed are hypothecated to the bank.

Features & Benefits:

Brings to you an excellent opportunity to have your own two wheeler.

Loan specially crafted to suit your personal needs & requirements.

• Attractive interest rate
• Minimal documentation
• No foreclosure charges
• Quick processing
• Speedy fund disbursal

Eligibility:

Individuals (including NRI and PIO), minimum 21 years and maximum 75 years of age.

Interest Rates: BRLLR + Strategic Premium + 4.00%.

Processing Fees & Charges: The processing charges on bike loans are calculated as 2% of loan amount, with a minimum of Rs. 1,000.

• Photo ID with age proof (like, PAN card, passport, driving license)
• Signed application form with 3 passport sized photographs
• Residence proof like valid passport, voter ID card, driving license, postpaid utility bill (gas bill and electricity bill), updated passbook or bank account statement, notarized registered rent agreement
• Bank statement for the last six months

If the applicant is a salaried individual

• Last 3 months’ salary slips & Form 16 or Income Tax Returns

If the applicant is a self-employed individual

• Balance sheet and profit and loss account, computation of income for last 2 years
• Income Tax Returns – last 2 years for applicants, 26 AS, Traces
• Business proof: Gomasta License, Registration Certificate, Service Tax Registration, among others.
• IT Assessment/Clearance Certificate, Income Tax Challans/TDS Certificate (Form 16A)/Form 26 AS for income declared in ITR.

Bike quotation.

CIBIL: The minimum credit score required for the loan is 701.

EMAIL Help: [email protected]