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Deogiri Chintamani Yojana [Vehicle Loan Scheme]
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Purpose :

Purchase of new or used vehicles, Private or commercial vehicles.

Loan Amount :

  1. 75% of cost of vehicle in case of new vehicles.
  2. 225% of cost of vehicle in case of used or old vehicles ( Age of Vehicle should be not more than 5 years).

Rate Of Interest / EMI :

Card Rates applicable (p.a.), Interest will be applied monthly basis on outstanding amount. EMI Starts at RS.2175* per month & it is up to RS. 3400* per month. Depending on your tenure.

Period :

  1. Maximum period for repayment is 60 months for new Vehicles.
  2. Maximum period for repayment is 36 months for a used or old vehicle.

Security: -

Bank will create the first charge on assets created out of a loan. "In Addition to the above Security; Bank will ask for collateral security of 100% of Sanction Amount. (In case of four-wheeler)."

Guarantor :

Maximum One Guarantor will be required forTwo Wheeler Loan upto Rs.1.00 lakh.

And Minimum Two Guarantors required in other vehicle loans.

Documents :

  1. Applicant -
  2. Photo, Photo ID, Residence proof, Income Proof such as Last 3 months Salary slip or Last Three years Balance Sheet and Tax Returns, Quotation of a vehicle in case of new vehicle, Agreement to sale in case old vehicle, Etc.

  3. Guarantor -
  4. Photo, Photo ID, Residence proof, Income Proof

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