The document discusses vehicle loan options from three banks - ICICI Bank, Bank of Maharashtra, and Oriental Bank of Commerce. ICICI Bank offers loans for both commercial and private vehicles and determines loan amounts based on customer history. It charges a flat interest rate and allows repayment via post-dated checks or direct debit. Bank of Maharashtra provides loans to salaried individuals and professionals, with interest at 11% and requiring the vehicle as security. It offers various schemes including free insurance. Oriental Bank provides loans for registered private vehicles that can later be converted to commercial, and assures disbursal within 3 days.

1. Monthly Review
Name-vehicle loan
Group Name (if any)
Leader Name: kanica arora
Group No. 7
Group Members: anand singh negi, ashish
srivastava, brajesh arya, hemlata yadav,
kanica arora, manish gupta, sujeet

2. VEHICLE LOANS
ICICI BANK
BANK OF MAHARASHTRA
ORIENTAL BANK OF COMMERCE

3. ICICI BANK
 OFFERS LOAN FOR COMMERCIAL AND PRIVATE
VEHICLES
 ELIGIBILITY FOR COMMERCIAL VEHICLES:-
• AN INDIVIDUAL / PARTNERSHIP FIRM / COMPANY WITH
MORE THAN TWO YEARS OF BUSINESS EXPERIENCE.
• EXISTING OWNER OF ATLEAST TWO COMMERCIAL
VEHICLES.
• CAPTIVE CUSTOMERS & TRANSPORTERS.
 LOAN AMOUNT IS DECIDED ON THE BASIS OF BANK’S
PAST EXPERIENCE WITH THE CUSTOMER AND
APPLICANT’S REQUIREMENT.

4. ICICI BANK
 INTEREST IS CHARGED ON A FLAT RATE BASED ON
THE SCHEME APPLICABLE FOR THE PARTICULAR
PRODUCT.
 ADDITIONAL CHARGES ARE APPLICABLE FOR
SPECIFIC PRODUCTS AND ARE NOMINAL IN
NATURE.
 NO ADDITIONAL COLLATERAL REQUIRED OTHER
THAN THE VEHICLE ON WHICH FUNDING IS
EXTENDED.
 MIGHT NEED A PERSONAL GUARANTOR.
 JUST NEED TO SIGN AN APPLICATION FORM AND
CONTRACT AGREEMENT.

5. ICICI BANK
 LOAN CAN BE REPAYED BY POST DATED CHEQUES
OR ISSUING A DIRECT DEBIT MANDATE THROUGH
YOUR EXISTING ICICI ACCOUNT.
 THE TENURE OF LOAN MAY VARY FROM 12 TO 60
MONTHS (DEPENDS ON NATURE OF DEAL AND
REPAYMENT CAPACITY).

6. ICICI BANK
CAR LOANS
 EXTREMELY CONVINIENT FLEXIBLE AND QUICK.
 MINIMIUM LOAN IS OF Rs.1OOOOO, MAXIMUM
DEPENDS UPON PRICE AND MODEL OF CAR AND
PROFILE OF THE CUSTOMER.
 FINANCE UPTO 90% OF THE EX-SHOWROOM PRICE
OF THE CAR.
 PRODUCT MARKETING IS DONE VIA MEDIA &
TELECOMMUNICATION SERVICES.

7. BANK OF MAHARASHTRA
 PROVIDES LOAN FOR COMMERCIAL & PRIVATE
VEHICLES.
 ELIGIBILITY CRITERIA:-
ANY PERMANENT SALARIED PERSON
/PROFESSIONALS/ BUSINESSMAN IS ELIGIBLE TO
APPLY FOR LOAN.
 FLAT RATES:
• 4W- 15LACS
• 2W- 0.50 LACS
• SALARIED – 18 TIMES THE GROSS PAY.

8. BANK OF MAHARASHTRA
RATE OF INTEREST:
11%p.a. (FIXED RATE)
 SECURITY IS HYP. OF VEHICLE.
 ONE GUARANTOR ACCEPTABLE TO BANK.
 REPAYMENT HAS TO BE DONE WITHIN:
• 4W (NEW)- 84 MONTHS
• 2W- 60 MONTHS
• 2ND 4W – 60 MONTHS

9. BANK OF MAHARASHTRA
 TO ATTRACT CUSTOMERS IT OFFERS VARIOUS
SCHEMES, OUT OF THEM THE LAST ONE WAS
PROVIDING VEHICLE INSURANCE FOR FREE FOR
AN YEAR.
 MARKETING IS DONE VIA MEDIA.

10. ORIENTAL BANK OF COMMERCE
 PROVIDES VEHICLE LOANS FOR 4W AS WELL AS
2W ON A CONDITION THAT THE VEHICLE SHOULD
BE REGISTERED AS PRIVATE VEHICLE, LATER ON IT
CAN BE CONVERTED TO COMMERCIAL ONE.
 ELIGIBILITY CRITERIA:-
• FOR 2W - Rs.6000pm (GROSS SALARY)
• FOR 4W - Rs.10000pm (GROSS SALARY)
 AMOUNT OF LOAN:-
• 2W - 90% OF THE COST OF VEHICLE.
• 4W – 85% OF THE COST OF VEHICLE.

11. ORIENTAL BANK OF COMMERCE
 SECURITY:
• HYP. OF VEHICLE AND A PERSONAL GUARANTOR IS
REQUIRED.
 REPAYMENT:
• 2W - 60 MONTHS
• 4W – 84 MONTHS
 TO ATTRACT COSTUMERS BANK IS ASSURING TO
DISBURSE LOAN AMOUNT WITHIN 3 DAYS.
 MARKETING IS DONE VIA MEDIA AND
TELECOMMUNICATION SERVICES.

12. Particulars ICICI Comparison
BOM OBC
ROI varies 11% 11%
ELIGIBILITY Salaried person Salaried Salaried person
/businessman/firm person/professional /businessman
AMOUNT OF LOAN Depends upon Max 15 lac for FW 90% Of ex-
vehicle. Max .50 lac for TW showroom for FW
&
85% for TW.
VEHICLE TYPE Private/commercial Private Private
SECURITY No extra collateral Hyp. Of vehicle is Hyp. of vehicle is
other than vehicle required required
MODE OF By PDC or direct
REPAYMENT debit mandate
DURATION 12 to 60 months 60 to 84 months 60 to 84 months
SPECIAL FEATURES Interest rebate Provide 1 year free Assurance of loan
according to insurance on the disbursement
customers profile. vehicle within 3 days.

13. Questions ?