ANDHRA BANK- VEHICLE LOAN

ADDING MOBILITY TO YOUR LIFE

Nature of the Scheme: 2 wheeler and 4 wheeler loans to Individual

Eligibility: Any individual having minimum gross income of Rs. 1.00 lack per annum for 4 wheelers and Rs. 60,000 /- p.a for 2 wheelers.

Margin amount: 10% on road price

Quantum of Finance:

New Vehicle: 90% of road price which includes invoice price, Life tax, Registration charges, Insurance and accessories or 3 years gross salary whichever is lower for 4 wheelers.

90% of road price which includes invoice price, Life tax, Registration charges, Insurance and accessories or Rs. 60,000 /- whichever is lower for 2 wheelers.

Second Sale: (not more than three years old): 60% of garage value or Rs. 5, 00,000 /- whichever is lower.

Accessories: not exceed Rs. 5,000 /- for 4 wheelers & Rs. 1,000 /- for 2 wheelers.
Repayment

For 4 wheelers (New) - minimum 12 months and maximum 72 months (EMI).

For 4 wheelers (Second sale) - 60 months EMI.

For 2 wheelers - minimum 12 months and maximum 60 months (EMI)

Interest rate: As applicable on the date of loan

Co-obligation: Third party acceptable to the bank for both 4 and 2 wheeler.

Security : Hypothecation of vehicle purchased

Documents: Valid driving license

Proof of Income : Salary Slip/ IT Returns/ Assessment Order, Proforma Invoice.

Valuation certificate from reputed garage for second sale.

Charges: Processing and Administrative charges as applicable.
Other Terms and Conditions apply.

This is not meant to be a prospectus. This is only a gist of the salient features. For further details and other conditions, contact your nearest Andhra Bank Branch.