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ARUNACHAL PRADESH STATE CO-OPERATIVE APEX BANK LTD

(Sponsored by Government of Arunachal Pradesh)

Head Office :: D-Sector, Naharlagun, District : Papum Pare, Arunachal Pradesh - 791 110

NSTFDC     CMFMP     Micro Finance SHG

PERSONAL VEHICLE LOAN

The Bank provides loans to purchase two wheelers and four wheelers Vehicles  for personal use only on the following Terms & Condition details:

Eligibility

  • Any individual residing inthe Area/Village/Town within the operational area of the bank are eligible for the loan.
  • Both the applicant and surety provider should be nominal members of the bank.
  • Any one of them should produce his salary certificate or IT returns with 3 years Balance sheet.

Amount

  • Maximum Rs. 1, 00,000.00 or 75% of Vehicle for 2 Wheelers whichever is less.
  • Maximum of Rs. 10, 000, 00.00 or 75% of Vehicle invoice value, whichever is less for Four Wheelers.

Vehicles

Type of Vehicles

Repayment Period

 Amount in Rs.

 Rate of Interest P.A.

For 2 Wheels

36 Months

Upto Rs. 1,00,000.00 

 14%

For 4 Wheels

5 Years

Up to 5 Lakhs 

 14%

Processing Charges
1.00% of the loan amount. 

Documentation
Application form With Personal Photographs

  • Invoice/quotation.
  • Pro-note.
  • Salary Slip for Last 3 Months
  • Bank Account Statement for last 3 Months
  • Details of Guarantor
  • Agreement for hypothecation of vehicle in favor of bank.
NB: The terms and conditions mentioned above are only illustrative. The Bank may ask for any additional documents/ informations depending on the history and track records of applicant with the Bank.