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 |
iv | Security | 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 other charges |
As per Bank’s rules. |
viii | Sureties | Depends up-on case to case. |
ix | Other conditions | a) Payment direct to the Vendor for full cost of the Vehicle as per Performa Invoice, subject |
The Vaish Cooperative Adarsh Bank Ltd.
Head Office: 3, Netaji Subhash Marg, Darya Ganj, New Delhi-110002
Admin Office: 21B/7, New Rohtak Road, Karol Bagh, New Delhi-110005
Phone: + 011 41536048 / 45636048
Email: info@vcabdelhi.in
Web: www.vcabdelhi.in