Pushpak Vehicle Loan Scheme

Purpose

Purchase of New Two Wheeler & Four Wheeler, Used Four Wheeler (Car)(Vehicle should not be more than 5 years old)

  • 75% of Ex-showroom cost for new vehicle, 50% of cost (based on valuation) used vehicle
  • Loan amount depending upon repayment capacity of customer from a, & b whichever is lower.
1) For salaried customer:
  • Applicant should have permanent job in government, co-operative or in private sector.
  • Undertaking regarding deduction of installment from salary is required.
  • Total deduction including installment of loan should not be more than 65% of monthly payment.
2) For self employed:
  • Applicant should be income tax payee.
  • Last 3 years Balance sheet, Profit & Loss account, ITR, statement of computation of income.

For two wheelers Maximum 3 years
For four wheelers Maximum 5 years

  • Hypothecation of two wheeler / four wheeler to be purchased.
  • Two guarantors

Pre-payment Charges

  • Nil
  • Pro form a invoice / Quotation from dealer, valuation for old vehicle.
  • Photographs, identy proof, age proof, photo proof, residence proof of borrower & guarantor.
  • Old Vehicle's original copy of R.C.T.C. book, Tax book, Insurance policy, Invoice Etc.
  • In case of salaried customers salary slip, IT returns with computation of income.
  • In case of self employed profit & loss A/c, balance sheet & IT returns.
  • Blank vehicle transfer form duly signed by applicant.