Car Loan

                                 

                                       Car loans to individuals for personal use

Eligibility for Loan:

  1. Regular employees of the Government of India / U.P.
  2. Permanent Employees of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt).
  3. Self-employed person or individuals working in private sector maximum age 55 years whose annual income according to tax returns for the last year, is atleast Rs 2.25 Lakhs.
  4. Pensioners/ Retired Officers/ Workers/ of Semi-official/ Self Governing/ Institute/ Educational Institute (Approved by UP/ India Govt) and  Retired Officers/ Workers/ of District Co-Operative Bank Ltd of Lakhimpur Kheri whose age is less than 70 years and has two times the value of real estate such as land / building or has one and a half times the value of the loan amount, term deposit receipts / national savings certificate / Kisan Vikas Patra of the proposed amount of loan and has agreed to Bank to let mortgage in favor of those.
  5. The beneficiary should not be be defaulter of any bank or financial institution.
  6. The beneficiary and guaranter should be the A/c holder of our bank.

 

Maximum Amount Of Loan:

The maximum amount of the loan will be 80% of cost of new vehicle or Rs 5.00 Lakh whichever is less. The remaining 20% of vehicles's cost should be deposited by beneficiary as margin money.

 

Term Of Loan:

The maximum term of the loan will be 60 months (5 years).

 

Interest Rate:

  1. Upto Rs. 3.00 lakh 10.00%
  2. More than Rs 3.00 lakh 11.00%

 

**For more information please visit your nearest branch of District Co-Operative Bank Ltd.