Vehicle Loan

Purpose

• Purchase of a vehicle for personal use.
• Purchase of a vehicle for transport and travelling business.
• Fulfill your dream of owning a vehicle through Dhanvantari Vehicle Loan.

Eligibility

• Indian citizens above 18 years of age.
• Professionals and self-employed individuals.
• Salaried persons with a regular source of income.
• Contact the nearest branch for further details.

Maximum Loan Amount

• New vehicle – upto 75 % of quotation amount.
• Old vehicle ( maximum 3 years old ) - upto 50% of valuation amount.

Repayment

• New Vehicle : Up to 84 installments (maximum).
• Old Vehicle : Up to 36 installments (maximum).
• Flexible repayment methods available.

Rate Of Interest

Interest @ 10 % p.a. (for personal vehicle) and 11 % p.a.(for commercial vehicle) are being calculated on basis of Reducing Loan amount.

SURETIES / SECURITY

• The financed vehicle will be treated as security.

Insurance

• Vehicle insurance is compulsory and must be maintained throughout the loan period.

DOCUMENTS REQUIRED FOR Vehicle Loan

• Completed Vehicle Loan Application Form.
• Two guarantors (subject to terms and conditions).
• Recent colour photographs.
• Address and Identity Proof (PAN Card, Aadhaar Card, Ration Card, Voter ID, etc.).
• Introduction by a Director or Staff Member.
• Registration Certificate / Business Proof / Business License.
• Income Tax Returns, Balance Sheet, Profit & Loss Statements for the last three years, Salary Slips, Income Proof, Saral Form, or Form 16.
• Original Purchase Document of the Vehicle.
• Valuation Fees, CA Fees, and Advocate Fees (as per terms and conditions).

Documents Required for Guarantor

• Recent colour photographs.
• Address and Identity Proof (PAN Card, Aadhaar Card, Ration Card, Voter ID, etc.).
• Income Tax Returns, Balance Sheet, Profit & Loss Statements for the last three years, Salary Slips, Income Proof, Saral Form, or Form 16.