Car Loan 

EDC Bank Car Loans | Ernakulam

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Ernakulam District Co operative Bank ltd offers cars loans at lowest interest rates of 14.00% for upto 25 lakhs of loan amount. Check documents, eligibility, loan amount etc.

TARGET GROUP –   Residents of Ernakulam District.

PURPOSE: Purchase of vehicles

LOAN AMOUNT LIMIT – Up to 25 lakh

RATE OF INTEREST – Up to25 lakh @14 %

REPAYMENT PERIOD 60Months

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Professional Details
Loan Amount
Occupation
Annual Income
City

ELIGIBILITY

  • Sufficient personal or family income.
  • Having a driving license

GUARANTEE

If applicant is an Employee:

1) Upto Rs.600000/-:- 1 Employed surety.

 If Applicant is not an Employee :-

1)Upto Rs.6,00,000/- :- 2Employed sureties

ü  Vehicle shall be hypothecated to Bank

ü  Above 600000 property having valuation of 150% of the loan amount

ü  20 cheque leaves of commercial bank

MARGIN – 20 % of the Invoice amount including Insurance & Tax should be remitted

MORATORIUM 3 Months

DOCUMENTS TO BE SUBMITTED

  • Salary Certificate of the Applicant & Guarantors in the prescribed form
  • Photocopy of Ration card of Applicant and Identity Card of Guarantors
  • In case of collateral security
  • Primary deed, Prior deed and other relevant revenue records with income proof and ID proof.

 

FORECLOSURE  FEE – Nil

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