• Permanent Employees of State / Central Government, Employees of Government / Semi-Government Undertakings & Autonomous Bodies
• Employees of Private Limited Companies, Private Organizations, Reputed Establishments & Employees on contractual basis with Central/State Govt, Government/ Semi-Government Undertakings& Autonomous bodies*
• Businessmen, Professionals and self employed individuals.

• Primary
  Hypothecation of vehicle to be purchased & Bank’s charge to be registered with RTO.
• Collateral
• No third party guarantee required in respect of permanent employees of State and Central Government, employees of State / Central Government Undertakings & Autonomous bodies drawing salary through our Bank and where letter of undertaking from employer is available.
• Guarantee of one person for all other applicants of the bank.

Margin

• 10% of the Sales Invoice Value for employees of State / Central Government, State / Central Government Undertakings, Autonomous bodies, Platinum / Gold Current Account holders.10% margin shall also apply to Businessmen, Professionals & Self-Employed persons with yearly income of Rs 2,50,000/- & above.
• 20% of the sales invoice value in case of all the other cases.
• 100% finance shall be available to applicants if they keep a fixed deposit with the bank for amount equal or more than the margin money & for duration not less than the repayment period of the loan. This deposit shall be kept under lien to the Bank.

• Flexible repayment options ranging from 12 to 84 months in equal monthly installments.

• Rs 75,000/- (Rupees Seventy Five Thousand Only)

• 30 months net monthly salary of the applicant or 2.5 times net annual income. However, in case of employees of private organizations & employees on contract basis as mentioned above, the maximum finance shall be limited to 18 times net monthly salary or 1.5 times net annual income.
• In case of married individuals, certified income of spouse can also be considered provided the spouse guarantees the loan.
• The upper ceiling on the loan amount shall be Rs 25 lacs.

• 0.25% of Loan amount to be paid upfront subject to a minimum of Rs. 500/-.

• The finance under this scheme shall be available for purchase of: An old car / jeep (not more than 5 years old). (Any make or model)

• Permanent employees of Government/Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or reputed establishments. Professionals or self employed individuals, Proprietorship Concerns. Partnership Firms, Private /Public Ltd Co.

• 25% for vehicles having age less than 3 years.
• 30% for vehicles having age of 3 years and above upto 5 years.

• Maximum repayment period of 72 months for vehicles having age less than 3 years.
• Maximum repayment period of 48 months for vehicles having age of 3 years & above to 5 years.

• Primary: Hypothecation of vehicle to be purchased.
• Collateral: No third party guarantee required in respect of employees drawing salary through our branches & where letter of undertaking from employer is available. Third Party Guarantee of two persons for all other applicants. Third Party Guarantee may be waived off in case of existing account holders having good reputation. Instead Post Dated Cheques may be accepted.

• Prepayment of any amount allowed any time after a period of 6 months at prepayment penalty @2% for the amount prepaid

• Nil.

• Rs 200/- per cheque

• The value of the vehicle will be ascertained on the basis of present market value of the new car of same variety & configuration less the depreciation, which shall be as follows

• The finance under this scheme shall be available for purchase of fresh commercial vehicles or new chassis and/or fabrication for commercial purpose or for captive use. The commercial vehicles will include passenger buses, trucks, tippers, oil and gas tankers taxis, mini buses, light commercial vehicles, tempo, auto rickshaws and any other mode of transportation under public carrier permit.  The vehicles should be of approved models/makes.

• Individuals / Proprietorship/partnership firms  & Limited companies owning / operating or proposing to own / operate transport vehicles for carrying passengers or goods on hire.
• The borrower should have sufficient net worth to pay for the margin and initial recurring expenses. In case where a borrower does not meet this requirement, a co-borrower having sufficient net worth can be included.
• Ownership of a pre-owned vehicle is not mandatory.
• Minimum age of Applicant: 21 years
• Maximum age of Applicant at loan maturity: 65 years
• Minimum period of existence in case of firms & companies: 2 years in business.
• Commercial Driving License (for self-operating by individuals)

• Maximum repayment period of 72 months including a initial moratorium of 2 months. The repayment shall be in Equal Monthly Installments

• Maximum repayment period of 72 months including a initial moratorium of 2 months. The repayment shall be in Equal Monthly Installments.

• Primary:
  Hypothecation of vehicle to be purchased. Banks name as hypothecate to be got noted in the books of the RTO and also the Registration Certificate.
• Collateral:
  

  Upto 30 lacs	3rd party guarantee of 2 persons
  Above 30 lacs	Mortgage of immovable property of value equal to at least 50% of the loan amount.

               

• 0.20% upto an amount of Rs 50.00 lacs. Minimum Rs 500/-
  0.50% above Rs 50.00 lacs to Rs 100.00 lacs.

  1.00% above Rs 100.00 lacs Maximum Rs 10.00 lacs.

• For purchase of new two wheelers viz. Scooters, Motor cycles, Mopeds, etc. (Any make or model)

• Employees of Government/Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or Reputed Establishments, Professionals or self employed individuals / Businessmen.
• Students, aged 18 yrs & above, with parent as co-borrower. 
• Minimum age of Applicant: 18 years
• Maximum age of Applicant at loan maturity: 58 years or age of retirement, whichever is higher for Government employees & 65 years for others.
• Minimum employment: The applicant must have been in current employment for a period not less than 1 year or must have a business standing of at least 2 years.
• Minimum Net Annual Income: Rs 50,000.
• Employees on Adhoc basis shall not be eligible. However, employees on contractual basis in Government/Semi-Government Undertakings, Autonomous bodies & Public Sector Undertakings shall also be eligible, if they have been in current contractual job for a period not less than I year and the remaining contract period is longer than the chosen repayment period.

• 10% of the Sales Invoice Value for employees of state/central Government/State /Central Government Undertakings, Autonomous bodies, Multinational companies/Public Sector Undertakings/Platinum /Gold current account holders. 10% margin shall also apply to Professionals & self employed persons with yearly income of Rs 2,50,000 & above.
• 20% of the sales invoice value in case of all the other eligible individuals/entities except employees of private sector organizations & employees on contractual basis.
• 25% of the sales invoice value in case of employees of private sector organizations & employees on contractual basis.

• 12 times net monthly salary/income, i.e. equal to net annual income subject to a maximum of Rs 1 lac. Certified income of spouse, children or parents can also be considered provided they guarantee the loan.

• Flexible repayment options from 12 months to 60 months. 

• Comprehensive insurance of the vehicle against all types of risks with usual bank clause and policy to be drawn in the joint names of the borrower and the bank.

• Primary
        
Hypothecation of Two-Wheeler to be purchased.
• Collateral
  • No third party guarantee required in respect of permanent employees of Government/Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings drawing salary through our Bank & where letter of confirmation from employer for deduction of monthly instalments is available. Guarantee of one person in case of employees drawing salary through our branches but where letter of confirmation from employer is not available.
  • Guarantee of one person for loans upto Rs 50,000 & Guarantee of two persons for loans above Rs 50,000 for all other cases. However, Branch Heads shall have the discretionary powers of relaxing the Guarantee requirement in case of select borrowers.

• Prepayment of any amount allowed at prepayment penalty @2% for the amount prepaid.

• 0.50% of Loan amount to be paid upfront subject to a
  minimum of Rs. 300/-.