Four Wheeler Loan

Four Wheeler Loan
BCCS Ltd., offer four wheeler loans on new purchase and pre owned vehicle. In the case of pre-owned four-wheeler, the age of the vehicle should not be more than 5 years old. For loan, maximum EMI should not be more than 30% of the net income of the applicant after including the proposed loan installment.

Loan Limit

• Loan up to 70% of the on current market priced and the maximum loan amount will be 2.5 lakhs on pre owned four-wheeler.
• Loan will provide minimum 6 months and maximum for 36 months.

Document Requirement

• Valid address proof, which may be established from the Utility Bill (Water Bill /Electricity Bill /Telephone Bill), ration card and adhar card (mandatory).
• Valid Identity Proof, which may be established from the Aadhar ID (i.e. Mandatory), PAN card, Election ID, Passport, Drivers license etc.

More Details

• Loan Application form duly filled with signature, attached photographs of the applicant.
• Guarantor Application forms duly signed with signature, attached photographs of the guarantor.
• Applicant should be a member of the society and ideally,applicant should fall in the age bracket of 18-60 years.
• For Pre-owned Four Wheeler loan, maximum EMI should not be more than 30% of the net income of the applicant after including the proposed loan installment.

Four Wheeler Loan Process & Insurance Fee

• The loan processing fee applicable as per society rule.
• The vehicle first party insurance is mandatory.
• Hypothecation of vehicle is mandatory and it is noted in the RC book, issued by the RTA.
• First Party Guarantee is to be obtained with suitable income and net worth.
• The vehicle purchased is to be kept comprehensively insured for agreeing BCCS society clause. The insurance amount has to be paid by the borrower besides regular EMI.
• Inspection charges and file charges for one time basis only at the time of disbursal of loan.
• Members - Group Insurance shall be done till loan ends, for which yearly premium shall be paid by the member.