Dombivli Nagari Sahakari Bank Ltd. Was established on 6th September 1970 in Dombivli town with a population of 2 to 3 lakhs only at that time. The “Scheduled Bank” status was conferred upon Dombilvli Bank by Reserve Bank of India in 1996.
The bank which is now known as “Dombivli Bank” has opened its branches at Kulgaon (Badlapur), Ambernath, Shahapur, Bhiwandi, Titwala, and in most rural and backward area like Talasari. The bank has wide spread customer base and also a huge number of (about 6,601) shareholders.
Purpose: This loan finances purchase of new / old (second hand) 4 wheelers vehicle
Eligibility: Any individual can avail this car loan.
Rate of Interest: For loans up to Rs. 25 lakhs is 11% per annum. For loans above Rs. 25 lakhs the rate of interest is 11.5% per annum.
Margin: There is a margin of 10% of the invoice price (which includes the cost of the vehicle, RTO Registration, Tax, Insurance)
Repayment: The maximum repayment period of loan for new vehicle is 60 months. For second-hand vehicles it is 36 months.
Security & Guarantee: Minimum one guarantor acceptable to the bank is needed. Hypothecation of new / Second hand vehicle (as the case may be) is taken as security.