The Varachha Co-op. Bank Limited has introduced the system of quick delivery of vehicle loans, with minimum papers and documents, without any hidden charges. Other advances of our Bank have been spread over on the following categories for Personal Vehicle (Two Wheeler/Car Loan) and For Commercial Loan
Purpose – Personal vehicle (two wheeler/car loan), Commercial Vehicle
Features – The features of the vehicle loan are
- Long term loan up to 60 months(5 years)
- Easy Process
- Interest on actual reducing balance
- No Hidden Charges for administrative work.
- Nominal Processing Charge
- No Prepayment Penalty
- Interest will be charged on daily product bases
- Take over of loan
Eligibility – Salaried Individuals, Professionals, Self Employed Individuals, Businessman
Margins – 20 % Margin for Vehicle Loan
Rate of Interest – 10.50%
Repayment – Repayment in easy installments spread up to 5 years, based on your age and capacity. The borrower can prepay at will with no penalty, or pay more than his/her stipulated monthly installment at any time, depending upon the availability of funds. This would enable the borrower to pay off your loan faster and reduce your interest burden.