Vehicle Loan

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Vehicle Loans - Loans for purchase of new Car/Scooter/Motor Cycle etc.

Example of Bootstrap 3 Tables with Borders

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 b) to recovery of margin money from the borrower. c) Insurance of the vehicle financed to be produced every year. d) Copies of Invoice and Receipt to be obtained and kept on record till the liquidation of Bank’s entire dues.