HIRE PURCHASE VEHICLE LOAN
How to apply : (Eligibility of borrower)
- An application in Bank’s Prescribed Form duly filled up having been affixed with the Photographs of the applicant/s and 2 (Two) guarantors along with their signatures to be supported by the papers / documents detailed as under.
Applicant details :
- Applicant’s last one years Income tax Return / Payslip of last 3 months / Gam Panchayat Income Proof Certificate
- Photo Proof and Address Proof – Pan card / Voter card / Driving license/Aadhar card As per KYC norms
- Quotation of vehicle
- Two (2) cheques with signed
- The Janta Sharafi Mandli – No due certificate.
- RTO Form No.20,28,29,30,34,35,36 – 2 copy
Guarantor Details
- 1- Photograph of the 2 (Two) guarantors
- Two (2) cheques with signed
- Address proof – 1 copy and Photo proof – 1 copy.
Conditions
- We give loan up to 90% of quotation of basic price. for transport/ commercial vehical Bank will give loan upto 90% of quotation of basic price.
- Applicant has to take insurance of full value of vehicle in favour of bank.
- Applicant have to pay margin amount to the bank. Bank will issue D.D of full amount in the name of dealer.
- Applicant have to submit copy of Receipt of Bank D.D, Copy of Invoice, Insurance policy Receipt , Cover note and RTO book showing with Bank’s H.P recorded with RTO, Vehicle Purchase Bill.
- Applicant has to take share @ 2.5% of the limit.
- Bank will give loan upto 90% of bill of basic price for purchasing new bike / scooter / rickshaw / tempo / pickup van etc.
- Applicant has to take insurance of full value of vehicle in favour of bank.