|Purpose||For purchase of new car|
|Eligibility||Salaried persons / Businessman / Commercial organizations|
|Repayment Period||Max 5 years.|
|Rate of Interest||
|Shareholding||2.50% of the Loan amount|
|Security||Hypothecation of vehicle to be purchased|
|Processing fees||As per rule.|
|Documentation||1. Duly filled prescribed application form
2. Latest photograph,Identity and residence proof of the Applicant and Guarantor(if any)
3. Income documents a) or b) as applicable
a) In case of salaried person, salary slip for last 3 months and bank statement for last 6 months, ITR of the past 3 years.
b) In case of businessman, last 2 years profit & loss & ITR copies, balance sheet and bank statement of business account for last 6 months.
4. Proforma Invoice