Bank Of Commerce , Provides Loan for purchase of all variants of new car,suv,4 wheelers & two wheelers-- scooter/motor cycle etc.

Minimum Income Criteria

For two Wheelers - Rs. 10000/- per month gross

Salaried persons/retired
Minimum 1 year of service

Retired employees/pensioner
Age should not exceed more than 65 years

Businessman/professional
No age bar. Established business for not less than 2 years service

Agriculturist
Based on the land holding

Maximum Loan Ceiling

Maximum loan for Two Wheelers - Rs.2.00 Lac &

Margin
For Two wheelers -10%


Process fee
0.50% of loan amount with a minimum of Rs.500. +Service tax, if any.

Financing of Second Hand Cars

Amount
Rs.7.50 lacs

Margin
20% (Under TVS) & 30% (Non TVS) of market value assessed by valuer or purchase value of the second hand car whichever is less

Rate of Interest
Loan repayable within 36 months -- BR+3.00%

Age of vehicle
The age of the vehicle should not be older than 2 years at the time of sanction of loan subject to satisfactory valuation & roadworthy condition.

Repayment
Repayment in 36 EMIs

Bank Of Commerce Interest Rates