CENT VEHICLE

PURPOSE:- To purchase 2 wheeler or 4 wheelers solely for the purpose of personal use ELIGIBILITY:- All Individuals age 18 years & above Finance is extended individually or jointly with spouse. Companies / Proprietorship, partnership firms / Societies etc. Minimum Income Criteria: Salaried For 4 wheelers Rs.15000/- p.m. 2 wheelers Rs.5000/- p.m. Other than salaried person For 4 wheelers Rs. 180000/- p.a. 2 wheelers Rs. 60000/- p.a.

MARGIN:- New Vehicle: Upto 20.00 lakh 15% More than 20.00 lakh 25% Old vehicles 40% - (not more than 3 years old) LOAN AMOUNT:- Salaried persons 24 months gross monthly salary on the basis of last salary drawn Other individuals 2 times average annual income as per IT return of last 2 years Companies / Proprietorship, partnership firms / Societies Three times average annual cash accrual (PAT + Depreciation) as per last two years audited papers. The max. loan amount is Indian Made vehicles Rs.20 lakhs; Imported Vehicles Rs 40.00 lakh; Old Vehicles Rs 10.00 lakh

NET TAKE HOME LOAN:- After accounting for all deductions including present loan net take home pay should be min 40% of Gross salary. SECURITY:- Hypothecation of vehicle. Charges to be registered with RTO authorities. One set of key should be kept with bank. GUARANTEE:- No personal Guarantee for loan upto Rs 5.00 lakh. Personal Guarantee of persons with sufficient worth & acceptable to Bank to be furnished. In case of company / firm all the directors/partners/proprietor to submit the guarantee.

INTEREST RATE:Repayable New Vehicle Second hand vehicle Within 36 months BR + 2.0% BR + 4% Beyond 36 month BR + 3.0% 0.50% reduction in rate of interest provided liquid securities are offered at least to the extent of 50% of loan amt PROCESSING CHARGES:2-wheeler-Rs.500/- per proposal. 4-wheeler Rs.2000/-per proposal

REPAYMENT:New Vehicle

2 Wheeler Max 84 months 4 wheeler Max 48 months

Old vehicle Old vehicle More than 2 upto 2 yrs yrs old old Max 36 Max 24 months months Max 36 Max 24 months months

* Post-dated cheques should be submitted for the entire repayment period.

DOCUMENTS TO BE SUBMITTED:- Application in prescribed format with documentary proof of identification, Documentary Proof of Income, Proforma Invoice from Dealer, Undertaking from the Employer regarding repayment, Duly Signed Blank Transfer Form. Old vehicle to be valued by approved valuer. PDCs to be submitted for entire repayment period. DISBURSEMENT:-Payment to be made to dealer/sub dealer directly by P.O./DD. 2nd hand vehicle should be disbursed to seller by PO/DD after collecting margin. SANCTIONING AUTHORITY:-All delegates within their sanctioning powers .In case of staff as per clause 7.1.6 of loan policy.

2nd hand vehicles to be sanctioned by ZM only. SPECIAL SCHEME FOR FINANCING TATA VEHICLES:A Tie up arrangement has been made with TATA Motors Ltd for financing of TATA brand vehicles wherein the applicable rate of interest will be as under: Repayment Applicable Rate of Interest Upto36 months BR + 1.50% Above 36 month upto 60 BR + 2.00% months Above 60 months upto 84 BR + 3.00% months