|Process fee||0.5% of Loan amount maximum Rs. 7000/-|
|Financing of Second Hand Cars|
|Margin||20% (Under TVS) & 30% (Non TVS) of market value assessed by valuer or purchase value of the second hand car. whichever is less|
|Age of vehicle||The age of the vehicle should not be older than 2 years at the time of sanction of loan subject to satisfactory valuation & roadworthy condition.|
|Repayment||Repayment in 36 EMIs|
|Collateral security||One third party personal guarantee acceptable to the Bank|
|Process fee||0.5% of Loan amount|
|Check Points||Only for personal use, Invoice authenticity by dealers, Driving license, repaying capacity|
|*100% process fee waived during festival Bonanza Period i.e upto 31.12.2013|
Documents/Information to be provided by the applicant along with Loan Application Form.
(These documents are indicative, relevant documents be obtained on case to case basis)
|Proof of Identity & Address (PAN Card, Driving License/Voter ID Card/Passport/Ration Card etc. of applicant and guarantor(s), if any/ /Salary Slip/proof of permanent and regular employment/proof of age/proof of length of service (confirmed permanent employees of Govt.) /Proof of confirmed service/proof of length of service and of income (IT/Professionals)/Proof of income (Balance Sheet and P&L A/C for last 3 years)/proof of date of establishment of business(Businessmen)/Proof of land holding (Agriculturists)/Copy of ITR/Form-16 for last two/three years in all cases/Bank statement of Account for the last six months in all cases/Passport size photographs of applicant (s) and Guarantors/Proof of Income of spouse, if he/she stands as guarantor/Proforma Invoice/ Quotation of the Vehicles to be purchased (New Vehicles) Certificate as to the Age of the Vehicle, Residual Life, Valuation of Vehicle etc. from the approved surveyors of General Insurance Companies or authorized dealer under True Value Scheme along with RC and Insurance (Second hand cars)/Information sheet for guarantors along with their PAN Card, proof of their identity, residence, age, income.|
Find details of oriental bank of commerce car loan through Oriental Bank Of Commerce EMI calculator. Just enter the loan amount of car you want to get financed and rate of interest. Oriental Bank Of Commerce EMI calculator automatically calculates the installment on reducing balance and it does not have any other processing fee.
|Oriental Bank Of Commerce|
New Car Loan Rates
|Processing Fee||0.50% (min 500 - max 7000 plus ST)|