Vehicle Loan - Four Wheelers

Eligibility	Share Member of the bank
Purpose	Purpose For purchase of New Vehicle (Four Wheeler) for personal use.
Amount
Margin	10% of the Ex-Showroom Price of new vehicle
Repayment	48 / 60 equated monthly instalments
Processing Fees	Rs.500/- (inclusive of Service Tax)
Rate of Interest	9.50 % p.a (Existing is 10.50%)
Disbursement	Direct to the Dealer along with margin money
Security	Hypothecation of Vehicle
Guarantors	Two Guarantors acceptable to the Bank
Documentation	The vehicle shall be insured comprehensively with Bank's HPA clause Duplicate key/s of the vehicle shall be deposited with the bank. Certified Xerox copy of R.C. cum-Taxation Book and Insurance Policy shall be obtained. duly noted HPA. Post disbursement Inspection Compulsory.. Pro-forma Invoice/Bill of the dealer / seller and stamped receipt shall be obtained. Residence proof & Photo Identity Proof of Borrower & Guarantors to beobtained. Income Proof of Borrower & Guarantors to be obtained Driving License. Bank A/c Statement of Borrower for last 6 months. Verify genuineness of dealer. Demand Promissory Note Undertaking by Borrower & Guarantors Loan Agreement Surety Bond Letter of Hypothecation Letter of Lien and Set-off Letter of Set- off and Appropriation Vehicle Transfer Set. Sec 49(3) letter to be taken if Salaried Person.
Miscellaneous
Sanctioning Authority	Upto Rs. 5.00 Lakhs Branch Manager/Branch In-charge Above Rs.5.00 Lakhs to Rs.10.00 Lakhs - GM and/or CEO Above Rs.10.00 Lakhs - Chief Executive Officer