Vehicle Loan
| Particulars | Individual, Firms, Companies |
|---|---|
| Who can Borrow | Individuals, Firms, Companies |
| Purpose | Convenient scheme both for commercial and personal use. |
| Margin | For commercial – 25% of invoice cost Add Basic value 75% Two wheeler 36 Months Auto Car 60 Months |
| Security | Hypothecation of Vehicle to be purchased Up to 1 Lakh-surety Above 1lakh Property security/Surety *Conditions apply |
| Repayment | Max-60 months |
| Processing Charges | 1% + GST as applicable from time to time |
| Attractive Features | Competitive Rate on daily reducing. No Prepayment penalty and no penalty for premature closing. |
| Documentation Charges | As applicable |
| Prerequisites |
1. Individuals employed/engaged in business/having professional income and sound financials. 2. Invoice from the Authorized dealer. 3. Applicant and Sureties Salary certificate/salary slip for consecutive three months. 4. KYC requirement. |
Sree Thyagaraja Co-operative Bank Limited, a leading Urban Co operative Bank in India.