Lakshmi Vilas Bank (Tamil) was set up in 1926 by a group of seven businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar.

Lakshmi Vilas Bank Two Wheeler Loan
Bank:
Lakshmi Vilas Bank
Loan Type:
Two Wheeler Loans
Processing Fee:
250.00
Loan amount 75% of the cost of vehicle.
Interest Rate:
13.00
Interest Type:
Floating

Features & Benefits of Loan:

Quick, simple, hassle-free processing.
Contact the bank for the interest rate that will be applicable to you.

The bank offers the opportunity to purchase a two-wheeler with the margin of 15% of the invoice value.

The minimum loan amount for the loan should be Rs.10,000/- and the maximum should be Rs.1,50,000/-

The borrowed amount shall not exceed six times of the net monthly income or 75% of the cost of the two wheeler.

The period of repayment for a new two wheeler loan is 60 months.


Require eligibility
You must either be a salaried person (who is a permanent employee of State / Central Government, Public Sector Undertakings / Corporations, Private Sector Companies of repute, Reputed Establishments) or a Professional/Self-employed person/Businessmen/Agriculturists.

You must be earning a minimum net monthly income of at least Rs.5,000/- (no matter which type of borrower you are).

You are also required to provide the bank with all the necessary proof of income.

You must not be older than 65 years old as on the date of maturity of loan to be eligible for the two wheeler loan.