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THE BHUJ MERCANTILE CO OP BANK LIMITED
Purely Banking

Vehicle Loan

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Purpose Vehicle Purchase of 2/3/4/Car/Personal/Commercial Vehicle
Eligibility All subject to bank norms
Limit of loan 90% of Ex-Showroom Cost or 80% of On-Road Price; whichever Applied.
Basis of Advance Based on the repayment capacity based on income.
Repayment Period Maximum 84 months.
Rate of Interest

Up to 36 Months 11%

Above 36 Months 11.50%

(Subject to CRR System)
Processing fees As per policy of the Bank from time to time
Shareholding/ Membership Contribution As per Bank's Norms.
Security Mortgage / Hypothecation of vehicle.
Guarantors Two guarantors as acceptable to the Bank. ( with good net worth)
Documentation BMCB Checklist for Loan
  Applicant Documents
  Loan Application Form
  3 Sets of KYC of Proprietor / All Partners / All Directors with Originals for Banker Signature
  ITR, SOI, BS, PL, Auditor Report, if any singed by Borrower and Verified by CA Certified for last 3 years
  CIBIL Report
  Application for Membership with Share Certificate as per Internal Norms
  Municipal Tax Bill of Applicant property
  Guarantor Documents
  3 Sets of KYC of Guarantors with Originals for Banker Signature
  ITR, SOI, BS, PL, Auditor Report, if any singed by Guarantor and Verified by CA Certified for last 3 years
  Whether Total Net Worth of Borrowers & guarantors is > 100% of loan Proposed?
  CIBIL Report of the Firm / Company
  CIBIL Report of all Concerned Persons
  Application for Membership with Share Certificate as per Internal Norms
  Municipal Tax Bill of Guarantor property

 

 

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