Priority Sector Loan
Retail Loan
Commercial Loan
OGB CAR LOAN
 
  Objective
  • For enabling our valued and potential constituents to purchase new Cars for their personal use only
 
  Eligibility
  • Salaried employees/Established Professionals & Businessmen.
 
 Purpose
  • For purchase of New car
 Amount:
  • Maximum Rs.10 lakh or 85% of the cost of the vehicle (on road price) whichever is less.
  • Loan above Rs.10 lakh can be sanctioned in eligible cases * .
 Margin
  • 15% of the cost price of the vehicle to be deposited as margin in cash. Margin amount should be deposited upfront .
 Security :
  • Hypothecation of Car/vehicle to be purchased. Collateral Liquid Security, if any, offered / stipulated by bank, (Collateral Liquid Security may be in the form of FDR/NSC/KVP/LIC (surrender value) etc
 Repayment :
  • Maximum 84 EMIs
 Holiday Period :
  • 1 months
 Rate of Interest :
  • Contact Nearest Branch for the Same.
 Remarks :
  • The car is to be purchased from authorized dealers/suppliers and will remain hypothecated to the Bank till
  • full liquidation of loan with interest and other charges.
 
For Form goto Forms Downlod dection .For further details, contact the nearest Branch