Vehicle Loan
A loan for a vehicle at the society's published rate of 13%.
A vehicle loan from Shradha Nagari Sahakari Pat Sanstha Maryadit is for members buying a vehicle. The published interest rate is 13%. The amount and the tenure depend on society approval and on the value of the vehicle.
The vehicle stays hypothecated to the society until the loan is fully repaid. You will need a driving licence, the RC book, identity papers, and two nominees. Apply at the Kotoli branch.
Why members choose this
13% interest
The published interest rate on a vehicle loan is 13%.
For a vehicle
The loan is tied to the vehicle you are buying. The branch assesses the vehicle.
Hypothecation
The vehicle is hypothecated to the society until the loan is repaid.
Branch sanction
Amount and tenure are decided after the society's approval, not before.
Who it is for
Two-wheeler buyers
Members buying a bike or scooter who can offer the vehicle as security.
Four-wheeler buyers
Members buying a car, subject to valuation and society approval.
Documents to bring
- Aadhaar Card (mandatory)
- PAN Card (mandatory)
- 1 Passport-size photograph (mandatory)
- 2 Nominees — Aadhaar & PAN of each (mandatory)
- Driving licence (mandatory)
- RC Book (mandatory)
Terms and conditions
- Loan amount and tenure are subject to society approval and vehicle valuation.
- Vehicle must be hypothecated to the society until the loan is fully repaid.
- Borrower must maintain valid insurance and registration during the loan period.
- EMI must be paid on or before the due date; late payment may attract penalties.
- All submitted documents must be original or self-attested copies as required by the office.
Frequently asked questions
What is the vehicle loan interest rate?
13%.
What documents are compulsory?
Aadhaar, PAN, one passport-size photograph, Aadhaar and PAN of two nominees, driving licence, and RC book.
Does the society keep a claim on the vehicle?
Yes. The vehicle is hypothecated to the society until the loan is fully repaid. Insurance and registration must stay valid during the loan.
How do I apply?
Bring the documents to the Kotoli branch or send an enquiry from the contact form. Sanction depends on approval and vehicle valuation.
Related services
Apply for a vehicle loan
Contact the Kotoli branch with your documents. The office will tell you the next step after valuation.
Contact the branch