| The Greater Bombay Co-operative Bank Ltd Car Loan |
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| Introduction |
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Bank provides loan for purchase of Four Wheelers viz.
New car, jeep, Multi Utility Vehicle (MUV),Special Utility Vehicle (SUV)
Also for used car / jeep / MUV/ Special Utility Vehicle (SUV) (not more than 3 years old) |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
Term Loan |
| Ex-Showroom/On Road |
On Road |
On Road |
| Loan Amount |
80 % of the On Road Price (cost of the vehicles + registration + insurance + one time road tax)
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60% of the valuation cost, subject to vehicle being less than 2 years old.
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| Tenure |
Min. - 12 months.
Max. - 60 months.
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Min. - 12 months.
Max. - 36 months.
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| Interest Rate |
13 % |
14 % |
| Preferred Manufacturers |
Bajaj, Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, Hero Honda, HINDUSTAN MOTORS, Honda, Hyundai, Indus, Kinetic, Mahindra, Maruti Suzuki, Mercedes Benz, Mitsubishi, Nissan, Reva, Royal Enfield, SAN Engineering, Skoda, Suzuki, Tata Motors, Toyota, TVS, Yamaha |
Bajaj, Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, Hero Honda, HINDUSTAN MOTORS, Honda, Hyundai, Indus, Kinetic, Mahindra, Maruti Suzuki, Mercedes Benz, Mitsubishi, Nissan, Reva, Royal Enfield, SAN Engineering, Skoda, Suzuki, Tata Motors, Toyota, TVS, Yamaha |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
As Per Actuals |
| Legal, Repossession and Incidental Charges |
As Per Actuals |
As Per Actuals |
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Application Process
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Application Process |
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Documents required:
Statement of Bank account of the borrower for last 12 months
2 passport size photographs of borrower(s)
Signature identification from bankers of borrower(s)
A copy of passport /voters ID card/PAN card
Proof of residence
Latest salary-slip for 3 months showing all deductions |
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