IFSC Code : IBKL0497LUC

Vehicle loan

For 4 wheelers

  • Loan Amount : Finance up to Rs. 10 Lacs
  • Period & Rate of Interest :for 60 Months and for 84 months, Attractive rate of Interest.
  • Margin  : 10% (on Road price after deducting Accessories amount)
  • Guarantor  : Two
  • Prepayment Charges: No Prepayment Charges
  • Processing Fess: @ 1 % of loan amount + applicable ST. (amount will be reduced to the extent of 0.5% in deserving cases subject to entire banking with us)
  • Share Holding : @ 2.5% of Loan
  • Security : New vehicle to be purchased
  • Eligibility :
    • 1. _____ times of Net Salary * (* Net Salary after deducting outside loans)
    • 2. ____ time of Net Cash Accruals* (* Net Cash Accruals = Net Profit + Depreciation + Interest)

Documents Required :

  • Loan application
  • Latest Photograph Applicant
  • PAN Card of Applicant
  • Address proof  of Applicant 
  • Quotation of New Vehicle
  • Latest Income Proof of Applicant
  • In Case of Salaried Person :
    • Salary slip of last 3 months
    • Bank a/c statement for last 6 months where salary is credited.
    • Form No 16 / ITR for last 3 finicial year.
  • In case of Businessman :
    • Proof of Business ( Shop Act, Food & Drugs License etc. as per applicability)
    • Last 3 years ITR, P& L A/c , Balance sheet
    • Last 6 months bank statement of business
  • Insurance : Insurance cover of Bike/ Car as per bank’s policy.
  • Any other documents as required by the bank at later stage.
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