Vehicle Loan
Merchants Bank offers uniquely tailored Car Loan products that take the pain and hassle out of buying a car. Flexible, transparent, quick, and cost-effective, our Car Loans put the joy back into owning a car.
Loan available for purchasing new/used car or two wheeler for personal use.
Documents Required:-
- Quotation from the Dealer in original (With Signature of Customer)
- Income proof a) or b) as applicable
- a)Salaried person : salary slips for last 3 months, ITR/Form 16 for last 3 years
- b) Businessman/Professional/self employed: last three years profit & loss account and balance sheet, & ITR and Bank statement for last 3 months.
- Recent Colour Photograph(3 Nos.)
- Proof of Address / Residence: Latest Telephone Bill or Electricity Bill or Ration Card
- Proof of Identity: PAN Card, Voter Id Card, Passport, Driving License
- PAN Card or Form 60/61 if applied for PAN
Terms And Conditions:-
- Terms and conditions of the scheme are subject to revision, for details contact nearest branch.
Interest Rates | |
Car Loan | 10.00% |
Two Wheeler | 11.50% |
Commercial Vehicle | 11.50% |