BGVB Car Loan

• New Car
• Old car older than threeyears.
• ReimbursementofcostofNewCar (Not more than 3 monthsold)

• Rs.1.50 lakh yearly Net Income
• No minimum monthly income is required in cases where borrower agrees to give 110% of liquid security in shape of TermDeposit

84 months

MCLR + 0.75% i.e. 9.75% (Floating) for Repayment up to 84 months

• New – 15%
• Old – 25%
• Reimbursement – 25%

2% p.a. in case of various irregularity

2% subject to condition

Form16 / ITR is not to be insisted upon, who is maintaining his / her salary accountwith us and drawing salary of an amount which does not categorize under taxable income i.e. presently, upto the threshold limit of Rs.2.50 lakhs per annum and having his / her salary account with our bank for thelast twoyears.

Minimum DSCR should be at least 1.50:1 and minimum Two years ITRs and Balance Sheet to be obtained andperused for business person (Corporate or non-corporate)

In case of salaried person drawing salary from BGVB Branch availing loan jointly no Personal Guarantee is required.

In case of salaried person drawing salary from BGVB Branch availing loan singly, Personal Guarantee of one person acceptable to the bank having worth of 125% of the loan amount shall be required.

In case of salaried person not drawing salary from BGVB Branch taken loan jointly or singly personal guarantee is required of one person acceptable to the bank having worth of 125% of the loan amount

For Farmer (Preferably joint loan with spouse)

Personal guarantee of one person ( other than spouse) acceptable to the bank having worth of 125% of the loan amount shall be required plus liquid Security in the form of Bank's own Term Deposit, LIC Policy (by surrender value), NSC, KVP, Relief Bond etc acceptable to the Bank minimum of 30% of the loan amount.

Registration with VAHAN Portal has replaced the requirement of CERSAI Registration and SARFAESI 2002, ACT is enforceable