Sardar Vallabhbhai Sahakari Bank Limited – Vehicle Loan

By | September 22, 2011

Sardar Vallabhbhai Sahakari Bank Limited is a Co-operative Bank that got the License No. DBOD-UBD-GJ-351P from Reserve Bank of India’s on 21/11/1983. The Bank then spread its network with 4 branches in Ahmadabad City and 1 branch at Unjha (Mehsana District). The Bank is providing Safe Deposit Vault (Locker) facility at its Law Garden and Isanpur Branch. All branches of the Bank are fully computerized since 1998 and now connected with Core Banking System since May 2009. The bank offers home loans, personal loans, car loans, gold loans, education loan, consumer loans etc.

Purpose: The loan is offered for purchase new or second hand vehicle; the bank offers Vehicle Loan for Two wheeler, three wheeler, four wheeler and commercial vehicles

Quantum of Loan: The bank offers 85% amount of quotation of vehicle for New Vehicle and 50% of valuation amount of second hand vehicle

Rate of Interest:

Particular ROI
a) Four wheel – New
up to 36 months 11%
36 months to 60 months 11.25%
b) Four Wheel – Second – Private
above 24 months 12.50%
c) Three wheel / Four wheel – commercial
up to 48 months 12%
48 months to 60 months 12.50%

Repayment: maximum 36 months

Initial Requirements: Copy of Income Tax Returns of Individual for last 3 Years; Valid Address Proof of the person wants Vehicle loan; Latest quotation of the vehicle; Bank Statement of individual & firm in case of self-employed for last six months.

Latest Salary Slip which show Net Pay after all deduction for salaried; Passport size photographs for all; Customer has to submit original Bill, Receipt, RTO Book with hypothecation mark of the Bank, Insurance Policy in favor of Bank.

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 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 *