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Every new venture requires a trusted shoulder to flourish. Here to empower your business plans, Saraswat Bank offers loan for the purchase of commercial vehicles up to Rs. 100 Lakh.

Eligibility:

  1. Individual
  2. Businessman
  3. Commercial organizations
  4. Transport Operators

Loan Amount:

Max Rs. 100 lakh


Basis of Advance

  1. 70% of Ex-showroom cost
    OR
  2. 4 times of Average Net Cash Accruals
Whichever is lower

Repayment Period

36 months extended up to 42 months


Rate of Interest:

  1. PLR - 1.75: 12.65%
  2. Present PLR: 14.40%  p.a.

Processing Fee:

1% of loan amount


Shareholding:

2.50% of loan amount, Maximum Rs. 25000/-


Security:

  1. Hypothecation of vehicle
  2. 2 guarantors
  3. 40% Collateral security

Documentation:

  1. Duly filled prescribed application form
  2. Proforma Invoice of the authorized dealer
  3. Photo Identity & Residence Proof of the Applicant & Guarantor

Copy of Contract:

  1. Businessman: Last 3 year’s profit and loss, balance sheet and ITR of last 3 years, bank statement of business account for last 3 months.
  2. Self-employment: Copy of license and earlier experience certificate to be kept on record.


Mile yahan, Dono Jahan

True to its new tag line, "Mile Yahan Dono Jahan", Saraswat Bank is committed to bridging the gap between technology and tradition by bringing to its customers the best of both worlds.

Keeping tradition intact and embracing technology, the Bank has matched strides with India's digital revolution by offering various digital banking services designed to make banking more easy and convenient like mobile banking, internet banking, international VISA EMV and RuPay chip cards, etc. Simultaneously, through its emphasis on personalized attention, the Bank has maintained its personal touch with customers. Agility of the small bank with the ability of the large bank has been Saraswat Bank's enduring heritage new.

Contact Saraswat Bank

Corporate Office
Saraswat Co-operative Bank Limited
Ekanath Thakur Bhawan 953, Appasaheb Marathe Marg, Prabhadevi. Mumbai- 400 025
Tel: [+91] (022) 6600 5555
Email: corporatecenter@saraswatbank.com