Adarsh bank – Vehicle Loan

By | June 11, 2011

Adarsh Co-operative bank is an autonomous association of persons united voluntarily to meet their common, economic, social and cultural needs through an owned & democratically controlled enterprise. The bank has been constantly striving to provide better services to exceed customer expectations.

Purpose                      – The loan is offered for the purchase and repair of vehicles

Eligibility                     – Sanctioned to any individuals (for personal use) and persons engaged or to be engaged in transport business. This category includes vehicles for both personal and commercial use. Finance is available for both new and old vehicles

Quantum of Loan       – Maximum Rs. 2 Lakhs

Repayment                 – Repayment schedule depends upon borrower’s repaying capacity

Security                      – hypothecation of the vehicle

Documents Required –

Loan application

Incase of vehicles for personal use, Income proof in form of latest salary certificate/income tax returns required
Incase of Vehicles for commercial use, income project report to be earned by the vehicle has to be produced
Proforma invoice from the dealer in buyers name

Valuation Report by bank’s valuer incase u are buying 2nd hand vehicle

Other documents can be asked at the time of sanctioning of loans

The bank also offers home loan, personal loan, education loan, business loan etc.

All information including news articles and blogs published on this website are strictly for general information purpose only. BankBazaar does not provide any warranty about the authenticity and accuracy of such information. BankBazaar will not be held responsible for any loss and/or damage that arises or is incurred by use of such information. Rates and offers as may be applicable at the time of applying for a product may vary from that mentioned above. Please visit www.bankbazaar.com for the latest rates/offers.
Category: Articles Glossary Tags: , ,

About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

Leave a Reply

Your email address will not be published. Required fields are marked *