Light Vehicle Loan (Employee)
10.50%
Drive Your dream – Light Vehicle Loan Available Now!
Purpose: Purchase of vehicle
Eligibility
- All government, Corporate, registered Company, NGO’s employees with confirmed service can avail this facility.
Quantum
- 70% for electric/hybrid vehicles
- 30% for all other vehicles
Tenure
- Maximum term of 5 years. For electric vehicles, maximum term of 7 years
Documents Required
- Loan application form dully filled and signed on all the page.
- Guarantor form dully filled and signed on all the page, if applicable
- Copy of CID of both the applicant and guarantor (if applicable)
- Recent passport size photographs of the applicant and guarantor (if applicable).
- Original Quotation/invoice for new vehicles from authorized vehicle dealers.
- Power of attorney to be submitted in cases where the vehicle is purchased in the name of quota holder.
- Initial appointment letter or latest promotion letter or service confirmation letter
- Latest pay slip authenticated by the accounts officer
- Departmental undertaking for loan repayment
- All government, Corporate, registered Company, NGO’s employees with confirmed service can avail this facility.
- 70% for electric/hybrid vehicles
- 30% for all other vehicles
- Maximum term of 5 years. For electric vehicles, maximum term of 7 years
- Loan application form dully filled and signed on all the page.
- Guarantor form dully filled and signed on all the page, if applicable
- Copy of CID of both the applicant and guarantor (if applicable)
- Recent passport size photographs of the applicant and guarantor (if applicable).
- Original Quotation/invoice for new vehicles from authorized vehicle dealers.
- Power of attorney to be submitted in cases where the vehicle is purchased in the name of quota holder.
- Initial appointment letter or latest promotion letter or service confirmation letter
- Latest pay slip authenticated by the accounts officer
- Departmental undertaking for loan repayment
