BGVB Car Loan

The existing guideline does not have provision of Reimbursement of cost of New Car. In addition to other eligibility criterion, the existing guideline has the stipulation that the prospective customer / guarantor should have KYC complied accounts (SB/CD/TD) with the Branch with minimum average deposit of Rs.20000.00 for the last 2 years and no walk in customer should be allowed loan for the purpose, making the scheme less attractive. The stipulation has reduced the prospect of marketing of the scheme. With a view to give uniformity in the scheme, it is felt pertinent to waive such stipulation and make the scheme more flexible in terms of bringing in more customers under the ambit of the scheme, in line with what is prevailing in our sponsor bank i.e. Punjab National Bank.