• Applicant/Dentist should be member of IDA. Original of IDA membership certificate and photocopy to be submitted. Original will be returned after verification.
• Minimum Monthly Income Criteria (Gross Income)
• Salaried Persons:
1. For Four wheelers - Rs.15,000/- p.m.
2. For Two wheelers - Rs.5,000/- p.m.

Other than salaried persons:

1. For Four wheelers - Rs.1,80,000/- p.a.
2. For Two wheelers - Rs.60,000/- p.a.

1. Salaried Persons: 24 months gross monthly salary on the basis of last salary drawn
2. Other individuals: 2 times average annual income as per Income Tax Return of last two years.
3. However, the maximum loan amount will be

for Indian made vehicles : Rs.20.00 lakh
for Imported Vehicles : Rs.40.00 lakh
for Old Vehicles : Rs.10.00 lakh

• Hypothecation of vehicle to be purchased.
• Bank's Hypothecation charge to be registered with Regional Transport Office Authorities.
• Copy of RC Book to be submitted to Bank.

1. In case of New Vehicle:
          For four wheelers = Maximum 84 months
          For two wheelers = Maximum 48 months
2. In case of Old Vehicle:
          Up to 2 years old = Maximum 36 months
          More than two years old = Maximum 24 months

However, in case of salaried Dentists, the entire loan is to be fully repaid before their date of retirement.

3. At ECS centres, ECS mandate will be obtained along with at least 8 post dated cheques. At other centres, 20 Post dated cheques will be obtained at the time of disbursement of loan and an undertaking from the borrower will be obtained to replenish the stock of PDCs at appropriate interval.
4. In case of permanent salaried Dentists of Govt/Local Self Govt /PSUs/Defence the condition of post dated cheques/ECS mandate may be waived in case:-
   1. hey produce an irrevocable undertaking from their employer to deduct the monthly installments from their salary and remit the same to the Bank,
   OR
   
   2. Whose salary is regularly routed through the account with the Branch and authority is obtained to debit the account for monthly installments.

New Vehicles:

1. If loan is repayable within 36 months :MCLR +1.75%(floating)
2. If loan repayable beyond 36 months: MCLR+2.75%(floating)

1. No Personal Guarantee will be obtained in case of loan up to Rs.5 lakh.
2. If loan is above Rs.5.00 lakh, no personal guarantee will be obtained in following cases;
   1. Any collateral security offered, the market value of which is not less than loan amount.
   2. Liquid security is offered at least to the extent of 50% of loan amount.
   3. The borrower has contributed to the extent of at least twice the prescribed margin.
   4. The borrower has satisfactory banking relationship with Central Bank of India for at least 5 years.

1. In other cases, personal guarantee of person acceptable to Bank and having sufficient worth to be provided.