The Cosmos Co – Operative Bank – Vehicle Loan

Established in 1906, the Cosmos Co-operative Bank Ltd. is the second oldest bank in the country. The Bank has recently completed glorious 106 years of service successfully. The main objective of the bank is to give loans to Cosmos Bank members at concessional rates for pursuing higher education abroad, to give medical help to members up to specified limits, to felicitate the awards of members who excel in Std. X & XII examinations, to promote educational spirit and to maintain, support, propagate intellectual qualities educational facilities, etc. Special arrangement as Executor & Trustee for preparation & execution for will especially for the Senior Citizens. It offers home loan, car loan, education loan etc. to its members

Purpose –           The loan is offered for the purpose of purchasing new/used car or two wheeler for personal use

Eligibility                     – members of the bank

Rate of Interest –           10.00% on daily reducing balance for two wheeler and 11% for four wheeler for 60 Months and 11.50% for 84 Months

EMI –           Rs.2, 125/- for a Two wheeler and Rs. 2175/- for Four wheeler loan of Rs.1, 00,000/- for 60 Months and Rs. 1739/- for 84 Months

Margin –           10% for new vehicles, 30-40% for used vehicles.