Central Bank of India Car Loans

Cent Vehicle Loan

9%

Processing Fee
0.50

Max Rs. 20,000

Description:

Do I have to pay any margin money to avail the loan? And how much do I have to pay?

For loan amount up to Rs.20 Lacs, a margin money of minimum 10% of loan amount is mandatory to be paid. Whereas a 20% margin money is necessary for loan amount more than Rs. 20 Lacs.

 

Do I have to provide any security for loan?

The hypothecation of vehicle purchased is mandatory as the loan security The hypothecation charge should be registered with RTO Authorities.