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KAL VEHICLE LOANS - EMI
Eligibility
Any individual or businessman can avail this loan depending
upon his/her needs. Loan is given for personal use only and not for
the commercial
use.
Loan
Amount
Maximum
Rs. 50,000/- on the
basis of equated monthly installments.
Value of the vehicle shall include
RTO tax, Sales Tax, Octroi, Insurance, HPA but
shall not include cost of additional accessories.
Margin
- 20 % of the Invoice value.
Rate
of interest (Effective from 30/05/2009)
- Presently the rate of interest is
- 13.50%
for Vehicle Loan (2 wheeler).
- 12.50% Vehicle Loan (Other than 2
wheeler for commercial use)
- 11.50% Vehicle Loan (Other than 2
wheeler for personal use)
Duration
of Loan
Other
Terms
- One installment will have to be paid
in advance / before disbursement of the
loan.
- Insurance of the vehicle will have to be
taken in the name of the Bank.
Please contact
your nearest branch for further
information.
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