V Wheels Four Wheelers

Salient Features:

  • Lowest interest Rates
  • Longest repayment Tenure(7years)
  • Financing 'On Road Price'
  • Interest calculated on daily Reducing Balance
  • No Pre-Payment Penalty

Purpose

  • For purchase of new passenger cars,Multi Utility Vehicles(MUVs) and SUVs.
  • For purchase of second hand/used 4 wheeler car/SUVs of not more than 5 years old.

Eligibility
  • Individuals aged between 21 and 70 years.
  • Permanent Employee of State/Central Govt., Public/Joint Sector Undertaking, Private Establishment or Reputed Company.
  • Pensioners drawing pension through our bank.
  • Professionals/Self Employed persons having independent income.

 

How much you are entitled to?
  • 85% of the cost/invoice of new vehicle.
  • 70% of the market value of used vehicle, not more than 5 years old.
  • 100% of the cost/invoice for new vehicles
    • For salaried applicants, if salary mandate is provided from the employer and salary is remitted to the branches of our Bank.
    • Providing mortgage of property secured to existing housing loan as continuing security.
  • 100% of the cost/invoice for new  vehicles in case of all category of borrowers who have availed various loans by mortgaging their land and building irrespective of salaried or non-salaried class after maintaing requiste margin on existing exposure by taking continuing security of immovable property subject to satisfactory track record in repayment/conduct of existing account/s.

 

What is your contribution?
  • 15% for new vehicles or 30% of the cost/value for old vehicles.
Repayment period
  • Maximum of 84 months.
Rate of interest
 
 Documents required
  • 2 passportsize photos.
  • Identity Proof.
  • Residence Address Proof.
  • Statement of account of the applicant/co-applicant for the past one year from their present Bankers.
  • Salary slips for the last 3 months of the applicant in case of salaried person.
  • Latest IT returns for 2 years for salaried/professional/businessmen/self employed applicant.
Download Forms
For more details contact our nearest branch or call to our toll free no 1800 425 5885.

 

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