What margin money I have to pay for KVB Two Wheeler Loan?
A margin money of 25% of the loan amount is mandatory for two wheeler loan.
What are the requirements for security/collateral for KVB Two Wheeler Loan?
Hypothecation of the vehicle to be purchased is necessary for loan. Collateral is optional, in the form of NSC/KVP/LIC Policies, Bank Deposits, Land & Building etc.
Do I have to provide a guarantee for two wheeler loan?
Guarantee for two wheeler loan is not mandatory. However, the bank may ask for a suitable Guarantor with sufficient net worth preferably spouse or family members or friends, if your income doesn’t meet the credit criteria.
How the loan will be disbursed?
Loan will directly paid to seller by way of DD/NEFT/RTGS/ Account credit/ etc.