Sutex Bank Two Wheeler Loan

Hi I would like to know the detail’s of the vehicle loan offered by the Sutex Co-operation. Bank Ltd and especially two wheeler loan?

The Sutex Co-operation. Bank Ltd gives all present day and propelled administrations and offices to our clients, for example, CBS office, SMS Alerts, E-proclamations, E-charge installments, ATM administrations, RTGS/NEFT office, Stamp Franking and so forth.

In Loans and Advances range, our bank gives all sort of account, for example, Machinery Loan, Housing Loan, Vehicle Loan, Cash Credit, Consumer Loan, Loan against NSC/KVP/RBI Bond/Life Insurance Policy and so on.

Vehicle Loan Details:

Limit Per Borrower
(i) For Personal Use: Maximum Limit Rs.35.00 Lacs
(ii) For Commercial Use: Maximum Limit Rs.100.00 Lacs
Margin Money:
Four Wheeler: 15% of Proforma Invoice
Two Wheeler: 20% of Proforma Invoice
Three Wheeler: 25% of Proforma Invoice

No. of EMIs:
Four Wheeler: 50 to 60
Two Wheeler: 50 to 60
Three Wheeler: 36
Commercial Use: 36
(B.O.D. reserves right to change according to repayment capacity of applicant).

Rate of Interest:
The Sutex Coop. Bank Ltd., Rate of Interest on Loans & Advances w.e.f 01/01/2016
Vehicle Loan 11.00%

Guarantors:
One guaranter (who holds property)

Collateral Security:
Property Mortgage in case of Commercial
Vehicle.

Contact Details:

2nd Floor, Surajram Bachkaniwala Bhavan,
Nr.Navjivan Circle,Udhna Magdalla Rd.,
Surat-395017, Gujarat (INDIA).
Ph: +91 261 2630519, +91 261 2634702
Fax: +91 261 2632026
Email: sutexcbs@sutexbank.in
kershasp_w@sutexbank.in

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Answered By StudyChaCha Member