Auto Loan- Set your dreams to motion
Is your dream car still a dream?
Owning a vehicle is not a matter of status but it is one of the most essential components of busy life. It is hard to imagine urban life without vehicles. To have own vehicle may be difficult for most of us but it is not impossible. To convert this difficulty into possibility, Prime Commercial Bank Ltd. has launched PRIME VEHICLE SCHEME for all needy people. You will feel more comfortable to make a decision to ride when you come to us. Your journey to a new height of success and luxury is ensured with our personalized services.
Prime Auto Loan- Get started
One of the best products among other diversified banking product is Auto Loan. Like other products, this is also another easy finance scheme to purchase new vehicle as well as second hand vehicle not older than 5 years from the date of manufacture of the vehicle. It is very easy and quicker finance scheme launched by our bank.
- Low competitive rate
 Interest Rates: |
16.00 - 18.00% p.a. |
- Financing up to 80% of Buying Cost.
- Instant decision by Bank – You know immediately the maximum amount you can borrow
- Processing fee just only 1% of financed amount
Eligibility – Who can Apply?
Employee/Salaried person
Applicant must be a permanent employee of reputed organization having completed at least 2 years of service. Further, remaining period of service should be more than 5 years. The minimum monthly take-home pay must be Rs. 10,000/- after paying EMI.
Entrepreneurs
As professional and Businessmen, applicant should have sufficient after tax return from his business or Profession. It is essential to have good source of income for professional & Businessmen.
Fixed Income Group
Persons having some sort of fixed income like rent, pensions, property.. are also eligible for this scheme.
Documents Required
- Identification document like Citizenship, Passport
- Photographs
- Documents certifying current salary (for employee)
- Certified Income Statement
- Paper of Agreements/contracts (for Fixed Income Groups)
- Audited Financial Statements for past two years (for Business Income)
Repayment
Repayment of loan should always be on EMI basis. The loan amount plus outstanding interest will have to be paid each month. In case of second hand vehicle the loan with interest should be repaid within the residual economic life of the vehicle.
For more details please visit our Retail Banking Unit, PCBL, Central Office.
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Deposits