NEWS & ANNOUNCEMENTS
Welcome to The Saurashtra Co-Operative Bank Ltd. |
“આપણી બેંક સૌરાષ્ટ્ર બેંક”

Vehicle Loan

Vehicle Loan is available for purchase of four wheelers and for Commercial vehicles.

Applicant details

  • Applicant’s last two years Income tax Return / Pay slip of last 3 months / Notarized income certificate for joint family.
  • Last tax bill / certificate from society chairman/Secretary if applicant owned property
  • Passport size Photographs.
  • Address proof – electric bill /telephone bill (any one) As per KYC norms
  • Photo proof – Pan card / Voter card / Driving license (Any one) As per KYC norms
  • Bank Statement of last 2 years
  • Quotation of vehicle
  • Applicant has to show all original documents to the bank for verification with xerox copy. Original documents will be returned to applicant after verification.

Guarantor details

  • Passport size Photographs.
  • Last tax bill
  • Last income tax return copy
  • Address proof – electric bill /telephone bill (any one) As per KYC norms
  • Photo proof – Pan card / Voter card / Driving license (Any one) As per KYC norms

Conditions

  • Bank will give loan up to 80% of quotation
  • Two guarantors are required for loan.
  • Applicant has to take insurance of full value of vehicle in favour of bank.
  • The Loan for four wheelers and Commercial vehicles will be repaid with interest in 36 equal monthly installments.
  • Applicants have to pay margin amount to the bank. Bank will issue Banker cheque of full amount in the name of dealer.
  • Applicant have to submit Xerox copy of invoice, receipt, insurance policy, RTO book showing Bank's lien recorded with RTO.
  • Applicant has to take share @ 5.00% of the limit.