Vahan Rin Yojana Vehicle Loan Scheme to cover the credit requirement of customers for Purchase of vehicle for self-use.
Vahan Rin Yojana EMI Calculator Loan Amount 1L 5Cr Tenure (months) 12 360 Interest Rate 6% 18% Equated Monthly Installment (EMI) will be 8606
HPSCB Loan : Features Vehicle Loan Scheme to cover the credit requirement of customers for Purchase of vehicle for self-use. Maximum limit of Rs. 40 Lakh.(15 lakh for Contract Employee) Lowest Interest Rates Low Processing Fee No Hidden Charges No Pre Payment Penalty Age: 21 years to 65 Years at the time of sanction of Loan. Loan Tenure: (Maximum 10 years) Salaried category: before superannuation Non salaried category : upto the age of 70 years Security for Loan upto 15 lakh: Regular salaried Individual : Salary Account with the Bank or DDO undertaking Contract Employee: Salary Account with the Bank or DDO undertaking and One Guarantor Non-Salaried Individuals: One Employee guarantor (preferably with salary A/C) OR 20% of Liquid security of the loan amount + One general guarantor OR 50% collateral security + one general guarantor. Security for Loan above Rs.15 lakh: Collateral Security in shape of land & building equivalent to amount of loan as acceptable to the bank. Special offer for Existing House Loan and KCC account holders: Extension of charge on property
HPSCB Loan : Eligibility Borrowers who are not defaulters of our Bank/ any other financial institution. Salaried Individuals: Regular& Contract Employees/Pensioners of H.P./ Boards, Corporations(LIC, GIC, etc.) Institutions, Statutory Bodies (including Universities) etc. Employees of Central Govt. Departments with the undertaking of DDO that the services of the applicant borrower are not transferable out of the State of H.P. At least one year of rendered service with the present employer in case of contract employees. Other Individuals: Self-employed Professionals/ Businessmen / Agriculturists /Horticulturist etc. having regular source of income
HPSCB Loan : Documents Income proof. Undertaking of DDO wherever applicable. Guarantor’s undertaking Proforma invoice of the vehicle to be purchased Document of collateral security/ Liquid security Sale-Purchase agreement along with the Valuation report as per prescribed format for old/used vehicles
