To avail loan for your dream vehicle, just give a missed call on 8010968305 or SMS <VL> to 7669300024 or visit Bank’s website or PSB-59 Portal or Mobile banking.
Individual & Proprietorship Firms
Qualified registered medical practitioners with minimum 3 years’ experience in any branch of medical science recognized by MCl/DCI /other statutory /regulatory authorities to practice in India
Age- 25 to 75 Years. Outer age is the age by which the advance facility should be repaid in full (Age deviation allowed)
For purchase of new two wheeler/four wheeler vehicle.
Reimbursement of cost of four wheeler vehicle purchased from own sources.
Type of Advance
Demand Loan/Term Loan
Quantum of Loan
Two or four wheeler vehicle run on conventional & non-conventional source of energy
Individuals & proprietorship firms For Indian make vehicles/ imported vehicles: Rs.200 lakhs (can be multiple personal vehicles within the limit)
Eligible loan based on income
• 4 times Gross average income of last 2 years ITR/ 4 times gross average income of latest form-16/ with Net take home pay (NTHP) as under,
Gross Monthly Income
Up to Rs.1.00 Iakh per month :
Up to Rs.5.00 lakhs per month :
Above Rs.5.00 lakhs per month:
For Proprietorship Firm:
Four times of average annual cash accrual (i.e. PAT + Depreciation) as per last two years I.T. Returns, Balance sheet, P&L Account filed in respective assessment years, subject to a minimum DSCR of 1.25
Hypothecation of Vehicle.
Comprehensive Insurance of the vehicle with Bank clause.
New Vehicles (Individuals/Proprietorship firms)
10% (on 'ON ROAD PRICE') uniformly for all limits. Margin includes basic price of vehicle, Road Tax, Insurance and Registration excluding cost of accessories.