|i||Eligibility||Any Individual bonafide member of the bank, having minimum monthly salary of 10,000/- for car loans|
|ii||Margin||15 % of the ‘On Road Price’|
|iii||Purpose||Purchase of New Car, Scooter, Motor Cycle etc|
a) Hypothecation of vehicle financed by the bank.b) Registration of Bank’s charge with RTO.
|v||Collateral Security||Mortgage of immovable property or pledge of any other security of adequate value to the satisfaction of the Bank for a loan of more than 15.00 lakhs.|
|vi||Repayment||Up-to maximum of 84 equal monthly instalment with interest, subject to repaying capacity of the borrower|
|vii||Rate of Interest and
|As per Bank’s rules.|
|viii||Sureties||Depends up-on case to case.|
a) Payment direct to the Vendor for full cost of the Vehicle as per Performa Invoice, subject
The Vaish Cooperative Adarsh Bank Ltd.
Address: H.O.3, Netaji Subhash Marg, Darya Ganj
Phone: + 011 20838002 / 20838003