Whatever be your decision on a bike - right from a Moped to a 500cc racer bicycle our bike Loan conspire is intended for you. The interaction is completely paperless. On a basic level, endorsement can be given in a short time subject as per the general inclination of CIBIL and rating scores.
|
Loan amount
|
Maximum up to Rs. 50 Lakhs
|
|
Margin
|
15% to 25%
|
|
Maximum Repayment Tenor
|
60 Months - EMI
|
|
Primary Security
|
Hypothecation of Vehicle purchased out of bank finance.
|
|
Collateral Security
|
Optional (NSC / KVP / LIC Policies, Bank Deposits, Land & Building etc.,).
|
|
Guarantee
|
Optional.
A suitable Guarantor with sufficient net worth, acceptable to the Bank (preferably spouse or family members or friends).
|
|
Insurance Coverage for the Borrower
|
Available to the extent of the Loan amount with BAGIC payable by the Borrower. (As per choice of the Borrower).
|
|
Processing Charges
|
|
Vehicle value up to Rs. 2 Lakhs
|
1% of loan amount subject to a minimum of Rs. 1,000/-
|
|
Vehicle value above Rs. 2 Lakhs up to Rs. 10 Lakhs
|
Rs. 3,000/-
|
|
Vehicle value above Rs. 10 Lakhs
|
Rs. 7,500/-
|
|
Other Terms & Conditions
|
-
The Net Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.
-
Payment directly to the seller by way of DD / NEFT / RTGS / Account Credit etc.,
|
