Purpose: Purchase of New Four (04) Wheeler for Personal use.
Facility: Term Loan
Salient Features:
Applicant should be our existing borrower have an existing Home Loan under any of the variants with us.
In case any applicant has a Home loan with other Bank, takeover of the Home loan is must for availing Vehicle loan under this scheme.
Housing Loan account and/or any other loan account of the applicant should have been always categorized as Standard Asset (Nil SMA) for its entire tenure.
Home loan account should have run for at least two years, after commencement of repayment.
If Cent Combo Vehicle has been availed then the takeover of the existing Home loan may be allowed only after the closure of Cent Combo Vehicle loan.
Rate of Interest: 8.60% - 9.45% depending on CIC score
Processing Charges: 0.50% of Loan Amount + GST; Subject to Min Rs.2,000/- & Max Rs.10,000/- (Completely waived till 31.03.2024)
All other features & terms and conditions of the Scheme are as per our existing Master Circular for Cent Vehicle loan scheme.