Aakanksha Loan Scheme

"Aakanksha" - Loan scheme of two and four wheeler passenger cars for personal use and purchase of consumer durables. - Valid upto 31.03.2015.

For Four Wheeler

Purpose

For purchase of New Four Wheeler for Personal use

 

Eligibility

Any Individual

 

Margin

New vehicle: 20% of invoice price
(i.e. the cost of vehicle + RTO Registration + Tax + Insurance).

2nd vehicle: 50% (If aggregate price is less than valuation then 50% of the Agreement price).

 

Processing Fee

Nil

 

Repayment Schedule

36 to 60 months subject to repayment capacity and liquidity of customer.

2nd Hand Vehicles (50% of the life or vehicle as estimated by the empanelled valuer or 60 months whichever is less).

 

Guarantors

Minimum one acceptable to the bank.

 

Security

Prime: Hypothecation of new / Second hand vehicle (as the case may be).

Collateral: Collateral Security equivalent to 50% of loan amount while sanctioning vehicle, Loan above Rs. 15.00 lacs to be obtained.

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