1. 25% for new vehicles. No advance against old 2 wheelers. For old four wheelers (maximum 5 year's old) margin to be kept 40%. In case of old 4 wheelers valuation to be done by insurance surveyor and advance to be sanctioned against this valuation.
  2. Vehicle to be hypothecated in favor of Bank.
  3. Vehicle is to be insured for its market value with Bank clause (Comprehensive).
Guarantors Only two Guarantors.
  1. Margin money to be deposited in the bank and payment to be made directly to the dealer as per the price of the Vehicle.
  2. Period may be ranged between 36 months to 60 months Recovery by all Post Date Cheques / Standing Instructions / ECS.
  3. In case of 4 wheelers Monthly Income should be 3 times of the installment due repayment period being allowed accordingly.
  4. Vehicle purchased to be inspected at the end of every financial year for to confirm its Roadworthiness and report for the same to be kept on record.