Bangalore: In jayanagar third bloc, Corporation Bank manager K.S. Prabhu offers vehicle loans in a special way. No processing charge are lived by this Bank upto Sept,2011 for those taking loans to buy vehicles.
The customer should consider the interest rates charged on the those loans by a Bank, before taking loans. This is 11.85% upto Rs.3 lakh loan. Above Rs3 lakhs upto Rs.5lakhs, the rate rises to 12.35%, and Rs5 to 7 lakh loans, the rate is 12.85%. The Bank also does not charge any property penalty in 2o11.
There is a down payment of 15% on interest margins for 4 wheelers and 20% on 2 wheelers as down payment here. The vehicular loan is made available on security of service in a place. The corporation Bank goes in for 2 wheel vehicular loan seekers.