• Home Loan
  • Vehicle Loan
 
fd7b860d20b3df6b5e57a096f9aece91 savings account, loans, SME loans, NRI banking services, Forex, car loan, home loan, co-operative bank, trade finance
Commercial Vehicles
Home » Personal » Retail Loans » Commercial Vehicles

Commercial Vehicles

Title

                                      Norms

Purpose

  • Purchase of new commercial vehicle

Eligibility

  • Individual, Businessman, Commercial organizations, Transport Operators

Limit of Loan

  • Max Rs. 100 lakh

Basis of Advance

  1. 70% of Ex-showroom cost 

                    Or
2.   4 times of avg Net Cash Accruals,
     1 or 2 whichever is lower

Repayment Period

  • 36 months extended upto 42 months

Rate of Interest

  • PLR - 1 = 13.25%
  • Present PLR : 14.25%  p.a

Processing Fee

  • 1% of loan amount

Shareholding

  • 2.50% of loan amount, Maximum  Rs. 25000/-

Security

  • Hypothecation of vehicle
  • 2 guarantors
  • 40% Collateral security

Documentation

  •  Duly filled prescribed application form
  • Proforma Invoice of the authorized dealer
  • Photo Identity & Residence Proof of the Applicant & Guarantor
  • Copy of Contract
  • In case of businessman, last 3 years profit & loss, balance sheet and ITR of last 3 years, bank statement of business account for last 3 months.
  • In case of self employment – Copy of license and earlier experience certificate to be kept on record.

Conditions apply
93902443ce2aa20501d710077a23b4f2 savings account, loans, SME loans, NRI banking services, Forex, car loan, home loan, co-operative bank, trade finance
Saraswat-Bank
Saraswat-Bank