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| Types of Asset Financed |
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Do you finance on all makes of CVs?
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Yes
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Do you finance for body construction as well?
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We extend finance for body construction selectively for buses only.
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| Finance Quantum |
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What will be the quantum of finance?
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The maximum finance that we provide is 75% of the on road cost of the vehicle (excluding accessories and insurance).
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| Rate Of Finance |
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Do you quote on a flat rate basis or on diminishing balance basis?
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We quote on a flat rate basis.
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Is there any service charges or document charges?
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We do not levy any service charges. We only collect stamp charges and charges levied by any statutory authority: that varies depending on the place of execution of the contract.
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In case I have an existing fixed deposit with you, will you consider that amount as a security and give me higher funding?
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No.
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| Turnaround Time |
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How much time do you take to sanction a loan?
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Normally the approval is accorded in one working day on submission of all the required documents and information.
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Will you give me a copy of the agreement duly filled in for my records?
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Yes
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| Collateral Security |
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Do you need any collateral security?
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No.
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Will you require a guarantee always?
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Normally we require a guarantor.
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| Dealer Related |
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Do you have tie-up with leading automobile manufacturers/ dealers?
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Yes. Special schemes in tie-up with various dealers will be running at various locations and at various points of time. Click here to send us a mail to find out whether any special scheme is running in your area.
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Can I change dealers at any point of time?
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Yes, this is subject to certain terms and conditions.
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| Repayment Procedure |
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Can I make bulk part payments to reduce the finance quantum and also have a revised repayment structure?
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Yes. However this can be accommodated only within six months from the date of agreement.
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Can I remit the instalment in any branch?
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Yes. You can remit your instalment in any of our branches. Click here to view our list of branches
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Can I issue cheques drawn on banks where you do not have branches?
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Yes. However, a charge is leviable for collection of such cheques.
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| Foreclosure |
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What is the procedure in case I wish to foreclose my account?
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Upon your specific request, we will advise the settlement amount to you and on remittance of the same the necessary termination papers would be issued.
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Can the basic terms of the contract be altered? If so, which components could be altered?
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We can alter the amount of finance & tenure on execution of a supplemental agreement if agreed to.
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| Normal Closure of Contracts |
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What should I do when my contract tenure gets over?
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On payment of the last instalment and any other dues as per the agreement, the termination papers including the RTO related papers would be issued.
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What papers do I have to collect on termination?
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The hire purchase termination letter, the no-objection letter addressed to the RTO and insurance endorsement cancellation letter
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| Other Services |
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At what frequency do you send me periodical statement of account?
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Statement of accounts would be sent only on a request from you.
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What should I do in the case of address change? Whom should I intimate?
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You can intimate the branch, which you normally deal with. Otherwise send us e-mail by clicking here
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| General |
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Is third party insurance cover alone sufficient?
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No. Comprehensive coverage is required.
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Do you insist that insurance has to be done only through your agent? Can I take responsibility for insurance on my own?
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We do not insist on this, but should ensure to arrange for comprehensive insurance and produce the policy copy with our hire purchase endorsement in time. However, if you pay the premium deposits along with your monthly instalments we can take care of your future insurance needs.
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