Deogiri Chintamani Yojana is the vehicle Loan Scheme offered by the bank.
Purpose – Purchase of new or used vehicles, Private or commercial vehicles.
Quantum of Loan – 75 % of cost of vehicle in case of new vehicles; 25% of cost of vehicle in case of used or old vehicles (Age of Vehicle should be not more than 5 years)
Rate of Interest – Card Rates applicable (per annum) Interest will be applied monthly basis on outstanding amount.
Period – Maximum period for repayment is 60 months for new Vehicles; Maximum period for repayment is 36 months for used or old Vehicle. Security: – Bank will create first charge on asset created out of Loan. In Addition to above Security; Bank will ask for collateral security of 100%of Sanction Amount. (In case of four wheeler)
Guarantor – Two guarantors of well means are required
Documents – Applicant : Photo, Photo I D, Residence proof, Income Proof such as Last 3 months Salary slip or Last Three years Balance Sheet and Tax Returns, Quotation of vehicle in case of new vehicle, Agreement to sale in case old vehicle, Etc.
Guarantor: Photo, Photo I D, Residence proof, Income Proof
The bank also offers loans such as home loan, personal loan, education loan etc.