Vijaya Bank Car Loan

Updated: 02-12-2020 08:20:32 AM

 

About the Bank

Vijaya Bank is a public sector nationalized bank of India. The Bank was incorporated on 23rd October 1931 in Mangalore, Karnataka with the aim to promote banking habit, thrift and entrepreneurship among the farmers of Dakshina Kannada district in Karnataka. Post establishment, Vijaya Bank showed major advancement and merged nine smaller banks into it between the years 1963 to 1968. Vijaya Bank became a nationalized bank on 15 April, 1980.

The bank has a pan India network of 1805 branches, 50 Extension Counters and 1592ATMs with the highest number of branches in its home state Karnataka. All the branches of Vijaya Bank function on the CBS(Core Banking Solution) platform, covering 100% of the Bank’s business.

Features of Vijaya Bank car loan

Car loan provided by Vijaya Bank has numerous attractive features, like:

• Nominal documentation: Car loan from Vijaya Bank can be availed at reduced documentation. There is no requirement for a long list of documents for Vijaya Bank car loan.
• Complete transparency: There are no hidden charges associated with the Vijaya Bank car loan. All additional charges and fees are mentioned at the time you apply for a Vijaya Bank car loan.
• Low down payment: Vijaya Bank car loan can be availed at a low down payment of 15% of the cost for a new vehicle, and 30% of the cost/value for old vehicles.

Vijaya Bank car loan details

Car loan is the best way to bring home your dream car without worrying about the paying the cost at once. You can buy a car on a loan and pay the borrowed sum in parts or EMIs throughout the tenure of the loan. Car finance plans from Vijaya Bank are a great way to buy your dream car. Vijaya Bank disburse car loans for both new and second-hand cars at the same interest rate.

Purpose:

Vijaya Bank car loan can be availed for the purchase of both new cars and second hand cars. Used car loan offered by the Bank can be availed for the purchase of second-hand cars which are not more than 5 years old.

Loan Amount:

Vijaya Bank plans provide loan quantum according to the type of car you choose:

• For new car it is 85% of the cost
• For old car it is 70% of the market value
• 100% of the cost/invoice for new vehicles in case of salaried applicants subject to certain conditions.