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  #2  
December 21st, 2017, 08:20 AM
Super Moderator
 
Join Date: Mar 2012
Re: Indian Bank Personal Loan Details

As per your concern I will let you know more about Indian Bank, IB Vehicle Loan so that you can have idea about the loan and I hope you will get the loan easily for your own personal use.

Eligibility
Minimum Gross monthly income for purchase of a car should be Rs.20,000/- p.m.

For Salaried Class: 20 times of Gross monthly Salary (Income of spouse may be included). Net Take Home Pay after deducting proposed Loan EMI, must be ensured at 40% of Gross Pay.

For professionals and Businessmen: 20 Months Income – to be calculated based on their average income earned in the last 2 years and Capacity / ability to repay the loan

Target group
Salaried class, Professionals, Businessmen, Self employed persons, our Staff, NRIs and Pensioners. Employees of other banks with NOC from employer concerned with minimum 3 years service / experience.

Amount of Loan
Maximum loan ceiling:
Two Wheelers: Rs. 10 Lakhs
Four Wheelers: Rs. 200 Lakhs

Margin
15% for New Vehicle.
40% for used vehicle (Four wheeler).

Processing fee
0.229% on loan amount with a max. of Rs.10191/-

Documents to be submitted for processing the application
1. Completed Application Form with passport size photograph.
2. Proof of Identity such as PAN Card / Voter’s ID/Passport/Driving License.
3. Proof of residence such as Recent Telephone Bill / Electricity Bill / Property Tax Receipt / Passport / Voter’s ID.
4. Proof of business address in respect of businessmen / industrialists.
5. Proof of Employment.
6. Salary Certificate.
7. Proof of other income like rent, interest on investment, if any.
8. Balance Sheet for the past three financial years in the case of Professionals, Businessmen & Self employed.
9. Income Tax / Wealth Tax (if applicable) Returns for the past 3 years.
10. Copy of Driving License.
11. Quotation for Vehicle to be purchased from the authorized dealer

Address:-
Indian Bank
PB No: 5555, 254-260, Avvai Shanmugam Salai,
Royapettah, Chennai - 600 014

Phone:-
044 28134300


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