Scheme for Purchase of 4 Wheeler for Own Use
The scheme aims to assist Qualified Personnel in Medicine, Management, Accountancy, Engineering, Architecture, etc. and Good Borrowers of the Corporation (Industrial Units) for purchase of New Four Wheeler Vehicle (Air Conditioned or Non-air-conditioned) for own use. The applications are online.
About This Scheme
Benefits
Loan Limit: Upto 75% of the cost of vehicle.
Interest Concession: 1% for Good Borrowers of ‘A’ category and 0.5% for ‘B’ category.
Eligibility
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Required Documents
- ✦##### At the Time of Filing Loan Application
- ✦Proof of Identity and Address
- ✦◦ Copy of the Ration Card.
- ✦◦ Copy of the Aadhar Card.
- ✦◦ Copy of the Voter's Identity Card.
- ✦◦ Copy of the PAN Card.
- ✦◦ Copy of the Birth Certificate.
- ✦◦ Copy of the Nativity / Residence Certificate.
- ✦Proof of Eligibility
- ✦◦ Copy of the Community Certificate (in case of SC / ST applicants).
- ✦◦ Copy of the Driving Licence.
- ✦◦ Proof of qualification (as the scheme is for qualified personnel in medicine, management, accountancy, engineering, architecture, etc.).
- ✦Vehicle Documents
- ✦◦ Original quotation for the vehicle, chassis, or body building works.
- ✦◦ Copy of the RC book for the existing vehicle (if applicable).
- ✦◦ Copy of the proceedings obtained from the Transport Department (if applicable).
- ✦Financial and Entity Documents
- ✦◦ Copy of the Bank pass book.
- ✦◦ Copy of the partnership deed (in the case of a partnership concern).
- ✦Collateral Documents
- ✦◦ Consent letter to offer collateral security to the extent required by PIPDIC.
- ✦◦ Copy of documents for the collateral security property.
- ✦##### During Processing Time or After Sanction of Loan
- ✦Property and Legal Documents (For Collateral Security)
- ✦◦ Original Title deed.
- ✦◦ Antecedent title deeds.
- ✦◦ Encumbrance Certificate for 30 years.
- ✦◦ Valuation certificate obtained from an approved panel valuer of PIPDIC.
- ✦◦ FMB (Field Measurement Book) copy.
- ✦◦ Patta copy.
- ✦◦ Legal opinion report for the collateral security property.
✦ Required ◦ Optional
How to Apply
Use the registered email-id to log in. An OTP is sent to the registered email address. The applicant is then required to enter the OTP and click "Login" to access to the customer dashboard. Upon successful login, the customer needs to update their profile by accessing the "Edit Profile" option (top right corner of the dashboard). The applicant must provide all required details. Click "Submit". To initiate the loan application process, the applicant must navigate from the customer dashboard by cl
Quick Info
- Level
- Central Government