Oriental Bank of Commerce Used Car Loans

OBC New Vehicle Loan

Processing Fee
0.50

0.50% of the loan amount, subject to maximum of Rs 20000

Loan Amount
₹ 1 - 25 Lacs
Tenure
1 - 5 Years

Description:

How much margin money I have to pay for Used Vehicle Loan?

A 20% margin money (Under TVS) & 30% margin money (Non TVS) of market value assessed by valuer or purchase value of the second hand car, whichever is less, is mandatory.

 

Do I have to provide a guarantee?

Yes, one third party personal guarantee is mandatory.