#1
February 5th, 2016, 05:56 PM
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Syndicate Bank Four Wheeler Loan
I want to apply for four wheeler loan in Syndicate Bank so can you please tell me the eligibility and the rate of interest for the loan?
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#2
February 6th, 2016, 08:10 AM
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Re: Syndicate Bank Four Wheeler Loan
Syndicate Bank is one of the oldest and major commercial banks of India. It was established in 1925 and nationalized on 19 July 1969, by the Government of India. SyndVahan - Purpose Purchase of New / Second hand Four Wheeler Purchase of New Two Wheeler Eligibility - Individuals having minimum annual income of `2 Lakhs Per Annum and above . Minimum annual income `0.50 lakh Individuals , Proprietorship, Partnership firms , Agriculturists, Trusts, Societies, other legal entities except HUF, Directors/Employees of the Corporates. Rate of Interest - Interest linked to Base Rate Base Rate+0.65%pa for Four Wheelers Base Rate+2%pa for two wheelers Monthly compounding Repayment - New 4 Wheelers – 84 EMIs; OLD 4 Wheeler – Upto 60 EMI depending on the age of the vehicle Quantum of Finance New- CAR: 95% of on-Road price of the vehicle & accessories upto `10000/- or 3 times the Gross Annual Income whichever is less. 85% of On road price for loans of above `25 lakhs for loans to Corporate Borrowers Second Hand Four Wheeler: Upto 10.00 lakhs depending on the age of the vehicle OR 70% of the valuation of the vehicle whichever is less. NEW vehicle 6 Months gross salary (or) 95% of on – road price (inclusive of insurance, Road Tax and Registration Charges) & accessories upto `500/- whichever is low; with no max. Ceiling. Second Hand two wheelers are not eligible for financing. |
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