Vehicle Security Loan :
Are you on the lookout for a loan on a used vehicle to upgrade your current ride?
We provide fast loan processing, simple documentation, and competitive interest rates for buying or upgrading pre-owned vehicles.
Membership :
- 2.5% of the loan amount as a regular shareholder.
Eligibility :
- The applicant should have a driving license not applicable for four-wheeler loans.
Repayment Period :
- You can choose a repayment period of up to 60 months to help make your payments more manageable.
Rate of Interest :
- 15.50% for four-wheelers.
- 16.50% for two-wheelers.
Penal Charges :
- Any irregularity or default in repayment will attract penal charges of 3.00% p.a. over and above the above rate of interest on the balance outstanding.
Processing Fees :
- 1.30% of the limit sanctioned without any maximum cap.
Quantum Of Finance :
- 50% of the vehicle valuation report.
Interest Calculation Method :
Security :
- Hypothecation of the Vehicle to be financed.
Documentation :
- Simple documents as per our Bank Norms.
