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.