#1
August 10th, 2016, 03:24 PM
| |||
| |||
Central Bank Of India Vehicle Loan
Hello Buddy , My Father want to Apply for Vehicle Loan in Central Bank Of India , Would you please tell me What is the Eligibility and Rate of Interest ?
|
#2
August 10th, 2016, 03:32 PM
| |||
| |||
Re: Central Bank Of India Vehicle Loan
Central Bank Of India Provides Purchase of two wheeler.(New only) / four Wheeler ( New/ old car) for Personal use. (i.e. not for hiring/ferrying passengers) Eligibility : All individuals of age 18 years and above and maximum upto the age of 65 Permanent salaried employees/ Self-Employed Persons / Independent Entrepreneurs who have regular source of income Farmers irrespective of land holding engaged in production oriented agricultural activities and in other allied activities. Non-resident Indians Companies / Proprietorships, Partnership Firm /Societies/etc Salaried/ Non-Salaried 4 Wheeler (New/ Old) Rs. 2, 40, 000 2 Wheeler Rs. 1, 20, 000 Quantum of Finance Two Wheeler - Rs. 10.00 lakh New Four Wheeler- Rs.75.00 lakhs Old/Second Four Wheeler Vehicle - Rs.10.00 lakh Loan shall be sanctioned on Road Price (Cost Of vehicle + Registration Charges+ Insurance + Road Tax). Any additional cost for fancy numbers shall not be financed by Bank. Margin Loan Amount Upto Rs.20 lakh - Minimum 10% Loan Amount More than Rs.20 lakh - Minimum 20% Old Vehicle (Any Loan amount)- Minimum 25% Rate Of Interest: Type Floating Fixed Rate ( Repayment within 36 months) 2 Wheelers Base Rate + 0.40% Base Rate + 0.40% 4 Wheelers New Base Rate + 0.40% Base Rate + 0.40% 4 Wheelers Old Base Rate + 1.50% Base Rate + 1.50% Security Hypothecation of vehicle purchased. Our Hypothecation charge should be registered with Regional Transport Office Authorities. Repayment Period in Month : Type Repayment Period In month 2- Wheeler 60 4-Wheeler (New) 84 4 WH (Old)Upto 3 Y old 60 4WH (Old) More than 3Y old 48 |