V Wheels Two Wheelers

V – Wheels (Two Wheelers)

Purpose :

Purchase of New Two Wheelers.

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.

Loan Amount :
85% of the cost/invoice of new vehicle.

100% of the cost/invoice for new vehicles:

1)   For salaried applicants, if salary mandate is provided from the employer and salary is remitted to the branches of our Bank.

2)   Providing mortgage of property secured to existing housing loan as continuing security.

Rate of Interest :

  • MCLR 1 year + 3.00% = 11.65% p.a. (floating)
    Repayment Period :
         Maximum : 84 months

*Conditions apply