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| COMPARE : CAR LOANS |
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| The Mahanagar Co-op Bank Ltd Car Loan |
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| Introduction |
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| The bank provides loans for purchase of cars both for personal and professional use. |
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| Highlights |
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New Car |
Used Car |
| Loan Type |
Term Loan |
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| Ex-Showroom/On Road |
On Road |
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| Loan Amount |
In case of new cars 90% of the value of the vehicle amount.
In case of other new vehicles 75% of the value of the vehicle amount or 90% of Chasis
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| Tenure |
Min. - 12 months.
Max. - 60 months.
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| Interest Rate |
14.5 % |
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| Preferred Manufacturers |
Chevrolet, FIAT, Ford, GENERAL MOTORS INDIA, HINDUSTAN MOTORS, Honda, Hyundai, Mahindra, Maruti, Mercedes-Benz, Mitsubishi, Nissan, Reva, SAN Engineering, Skoda, Tata Motors, Toyota |
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 Fees & charges
Fees & charges
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New Car |
Used Car |
| Stamp Duty |
As Per Actuals |
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| Legal, Repossession and Incidental Charges |
As Per Actuals |
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| Comment on Charges |
Processing Fees-0.5% |
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Application Process
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Application Process |
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Documents required:
Proforma Invoice
· Quotation of Body Cabin
· Margin money challan
· Letter for transport company
· Saving/Current Account Statement
· Proof of Occupation and Income
· Certified Balance sheet and Profit & Loss A/c. Statements of the borrowers and surities other than salaried persons.
· In case of salaried persons pay slip of last three months.
· Other certificates
· Any other document required by bank. |
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