Vehicle / Transport Loan

The Udaipur Mahila Samridhi Urban Co-operative Bank Ltd. offers Vehicle / Transport Loans for purchase of Two Wheelers, Electric Vehicles, Cars and Light Four Wheelers with affordable interest rates and flexible repayment options.

Drive Your Dreams Forward

The Bank provides finance facilities for purchase of personal vehicles, electric vehicles and transport vehicles with customer-friendly loan terms.

Loan facilities are available for Nominal Members, Regular Members and Electric Vehicle buyers with flexible repayment periods.

Loan sanction depends upon repayment capacity, annual income, vehicle quotation and applicable Bank norms.

Key Features & Benefits

Affordable Interest Rates

Competitive interest rates for two wheelers, cars and electric vehicles.

Quick Loan Processing

Faster approval and smooth disbursement process.

Flexible Repayment Options

Multiple EMI tenure options based on loan type.

Electric Vehicle Support

Special finance facility available for electric vehicles.

Minimal Security Requirement

Collateral security not essential for eligible cases.

Trusted Banking Assistance

Personalized guidance throughout the loan process.

Vehicle Loan Details

Loan Type	Loan Amount	Interest Rate	Repayment Period
Two Wheeler Loan - Nominal Member	Up to ₹1,00,000	8.75%	12 Months
	Max 75% of Vehicle Cost	9.00%	18 Months
	Max 75% of Vehicle Cost	11.00%	24 Months
Two Wheeler Loan - Regular Member	Up to ₹1,50,000	8.50%	12 Months
	Max 75% of Vehicle Cost	8.75%	18 Months
	RTO Vehicle (EV / Normal)	9.00%	24 Months
Two Wheeler Electric (Non RTO)	Up to ₹1,00,000	9.00%	12 Months
	Up to ₹1,00,000	9.50%	18 Months
Light Four Wheeler Loan	Up to ₹12 Lakhs	8.00%	36 Months
	Up to ₹12 Lakhs	8.25%	48 Months
	Up to ₹12 Lakhs	8.25%	60 Months

General Conditions

Repayment EMI should not exceed 50% of annual income of borrower in Two Wheeler Loans.
Two Wheeler Loan up to 12 months requires no guarantor, up to 18 months requires 1 guarantor and above that 2 guarantors are required.
Four Wheeler Loan up to 48 months requires 1 guarantor and above that 2 guarantors are required.
Two Wheeler Loan facility is available for Nominal Members.
HPN and Insurance endorsement in favour of the Bank is mandatory.
Collateral security is not essential in eligible cases.
Form 24, 29 and 30 must be obtained from the owner.
One year income proof is required for Electric Vehicle loans.
Processing Fee of ₹1,500 and ₹2,000 including stamp duty shall apply for Electric Vehicles depending on tenure.
Vehicle may be purchased in the name of husband of lady borrower, but he must be co-borrower in the loan.

General Conditions For All Loans

One or Two sureties are required who should be Income Tax payee or Government Servant having reasonable worth.
Maximum loan recommendation is restricted up to 75% of On-Road Price of Vehicle along with other eligible criteria.
Principal security must be insured with endorsement in favour of the Bank.

Documents Required

Identity Proof

Aadhaar Card, PAN Card, Voter ID, Passport etc.

Address Proof

Aadhaar Card, Utility Bill, Passport etc.

Income Proof

Salary Slip, ITR, Business Proof, Bank Statement etc.

Vehicle Documents

Vehicle quotation, Insurance papers, RC details and related documents.

Important Information

Vehicle / Transport Loan sanction and disbursement are subject to eligibility, repayment capacity, documentation verification and applicable rules of The Udaipur Mahila Samridhi Urban Co-operative Bank Ltd.