APGVB

Vahana Vikas- Two Wheeler Loans

Vahana Vikas- Two Wheeler Loans

Purpose Eligibility Interest Rate Max Loan limit and Other Norms Documents Required Service charges Security

To provide financial support to purchase Two Wheeler.

Age: 21 to 67 years.
Permanent employees of State/Central Government, Public sector undertaking, Corporations, Private Sector companies and reputed establishments.
Professional, Self-employed, Business man and others who are income tax assesses.
Persons engaged in Agriculture & Allied Agriculture who have regular source of income.
Net Annual Income - Rs.1.50 lakh.
CIBIL SCORE :Minimum 700.

12% p.a subject to revision from time to time.

Minimum Rs.25,000/-
Margin - 15%
Repayment Period 5 years

KYC ( Aadhar , PAN card original & Xerox copies)
KYC for residential proof
Latest income related documents
Valid Driving License
Quotation of purchasing vehicle

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Hypothecation of vehicle purchased out of bank finance (Ensure Noting of Hypothecation Charge in the books of RTA and copy of book duly noted with hypothecation charge should be kept attached with the documents).
Guarantee of spouse, if his/her income has been taken into account for computing eligibility of loan amount.
Check off facility(in case of salaried person) and PDC s (Post-dated cheques)