South Indian bank bike loan

My brother want to take loan for purchasing the bike from the South Indian bank so will you please tell me is this bank give the loan for bike? If yes then tell make how much amount given as a loan? Also tell me what is the interest rates and what is the amount of the installment to submit the amount at the South Indian bank?

Can you provide me the details of the Loan for Bike/Two wheelers in South Indian Bank as I want to apply for it? Also provide me the Application Form for the same?

[sumit]

South Indian Bank offer loans for to buy a new car, commercial vehicles, or vehicles for agrarian purposes. All loans are subject to the discretion of the bank and subject to such conditions as may be stipulated by the Bank.

The purpose of the Loan is to purchase of new vehicles; takeover of Existing Vehicle loans; reimbursement of Purchase Cost is restricted to within 3 months from date of purchase and for purchase of second hand vehicle


General Terms

Cost of Vehicle
Basic Cost + accessories + Duties +Taxes + Octroi + Onetime tax +Comprehensive insurance premium for the first year period


Repayment period
Maximum 5 Years and (7 years with 100% Collatteral Security)
Age of the borrower should not exceed 75 years, on completion of the loan term


Margin
5% to 15% (25% for Second hand vehicles)


Loan amount
Minimum loan amount – Rs 2.00 lacs for four wheelers and Rs.50,000/- for Two wheelers . No upper ceiling


Collateral
Collateral - Deposit/Property/Gold/LIC/NSC


Guarantor
• Where there is no collateral security, Aggregate Net worth of the signatories to the loan documents (in land & building) should be twice the loan amount.
• If married, spouse to join the documents as co-borrower.


Inspection & Documentation Charges
NIL


Upfront charges
0.25% of the loan amount (one-time) or Rs.5000/-whichever is less


Pre payment penalty
NIL


Application Form