Any individual bonafide member of the bank, having minimum monthly salary ofRs. 10,000/-.

Rs. 3 Lacs or 30 months’ income of the borrower whichever is less.

50 % of the value of Car as assessed and certified by any of the  company’s (Manufacturer of the relative vehicle) authorised workshop or by Automobile Association of India alongwith expected life of the vehicle.

Purchase of 2nd hand Car.

Hypothecation of vehicle financed by the Bank.

Mortgage of immovable property or pledge of any other security of adequate value to the satisfaction of the Bank.

Upto a maximum of 60 equal monthly instalment with interest, subject to repaying capacity of the borrower OR residual life of the Vehicle whichever is earlier.

As per Bank’s rules from time to time.

Two sureties of good means to the  satisfaction of Bank, preferably an employee of one Government or Semi Government department, or Autonomous body or local bodies or Public Sector Undertakings and also of reputed Public limited Companies with at least 3 years of continuous service.

b)

In case, the borrower is in the service of Private Sector or in business or profession, at least  2 sureties of good means who are necessarily be in the employment of Government or Semi Government department, or Autonomous bodyor local bodies or Public Sector Undertakings and also in the employment of Public limited Co’s of high reputation with a continuous service of a minimum of three years.

Payment direct tothe Vendor for full cost of the Vehicle as per Performa Invoice, subject to recovery of margin money from the borrower.

Insurance of the Vehicle at the cost of the borrower.

Copies of Invoice and Receipt  to be obtained and kept on record till the liquidation of Bank’s entire dues.

Registration of Bank’s charge with RTO.