Vehicle Loan

The Vehicle Loan scheme of Sabarkantha District Central Co-operative Bank Ltd. is designed to help individuals purchase new or used vehicles with easy financing and affordable repayment options. The loan enables customers to own two-wheelers, cars, and commercial vehicles for personal or business use.

Purpose of Loan

♦  Purchase of new two-wheelers and four-wheelers
♦  Purchase of used vehicles (subject to bank norms)
♦  Commercial vehicles for business and livelihood purposes

Eligibility

♦  Individuals, salaried employees, self-employed persons, farmers, and business owners
♦  Applicant must have a stable source of income
♦  Good credit history and repayment capacity
♦  Age and other criteria as per bank rules

Loan Amount

♦  Loan amount based on the cost of the vehicle and borrower’s repayment capacity
♦  Margin requirement as per bank norms

Rate of Interest

♦  Competitive and affordable interest rates
♦  Interest rate as decided by the bank from time to time

Repayment Period

♦  Flexible repayment tenure with monthly installments
♦  Repayment period based on type of vehicle and borrower profile

Security

♦  Hypothecation of the vehicle financed
♦  Additional collateral or guarantor, if required by the bank

Documents Required

♦  Loan application form
♦  Identity proof and address proof
♦  Income proof (salary slips, IT returns, or business income details)
♦  Quotation/proforma invoice of the vehicle
♦  Passport-size photographs

Key Features & Benefits

♦  Quick loan processing
♦  Simple documentation
♦  Affordable EMIs
♦  Transparent loan terms
♦  Friendly customer service