PSB Bank Auto (Vehicle) loan from Download

This document is the 11-page Punjab & Sind Bank (PSB) Auto Loan Application Form (Form AL 601 / AL 602 / AL 603) (2150_20240… p. 2). It is used to request financing under the PSB Auto Loan Scheme for buying personal vehicles (2150_20240… p. 1).

• Eligible Vehicles: Financing is available for purchasing both New and Used (Old) Vehicles (2150_20240… p. 2).
• Vehicle Types: The scheme covers both Four-wheelers and Two-wheelers (2150_20240… p. 7).
• Loan Options: The bank offers tailored variants like PSB Apna Vaahan, PSB Apna Vaahan Sugam, and PSB E-Vaahan (for electric vehicles) (2150_20240… p. 13).

All applicants, co-applicants, and guarantors must supply a strict set of verification papers (2150_20240… p. 8):

• Vehicle Proofs: A Proforma Invoice or Quotation from the dealer is mandatory for new cars (2150_20240… pp. 3, 8). Used cars require a seller offer letter, authorized workshop valuation, old Registration Certificate (RC), and a running insurance copy (2150_20240… p. 8).
• Identity & KYC: Two recent photographs, Aadhaar card, PAN/TAN card, and a valid Driving License (2150_20240… p. 8).
• Financial & Income Proofs: 3 years of Income Tax Returns (ITR) with income computations (Form 16 for salaried individuals) (2150_20240… p. 8). Salaried individuals must also provide their last 2 months’ salary certificates (2150_20240… p. 8).
• Bank Records: The last 3 months of bank statements for individuals showing salary credits, or 6 months of statements for business entities (2150_20240… p. 8).
• Repayment Setup: A cheque for the processing fee and a cancelled cheque from the account where EMIs will be deducted via standing instructions or ECS (2150_20240… p. 8).

• Guarantor Profile: If required, the guarantor must complete a dedicated section detailing their personal background, contact info, and 3-year income trend (2150_20240… p. 5).
• Net Worth Assessment: Both the borrower (Form AL 602) and the guarantor (Form AL 603) must fill out a granular statement declaring all fixed properties, vehicles, cash, existing bank deposits, and outstanding liabilities to establish their actual net worth (2150_20240… pp. 9-12).

• Automatic Account Adjustment: The bank maintains a legal lien over all customer deposits and assets. It holds the ultimate right to adjust funds from any of your accounts to recover unpaid auto loan balances (2150_20240… p. 6).
• Borrower-Paid Expenses: All out-of-pocket costs—including valuation fees, inquiry charges, vehicle insurance, and legal or litigation expenses—are charged directly to the borrower’s loan account (2150_20240… p. 6).
• Priority Sector Benefit: If you use the vehicle to transport agricultural inputs or produce for your business, you can claim “Priority Sector” coverage by signing a specific indemnity declaration (2150_20240… p. 6).

If you are filling this out, tell me:

• Are you buying a new vehicle or a used one?
• Are you applying as an individual or a business entity?

Download PDF Click here

Read more

PSB Bank Cash Deposit Slip from Download

PSB Bank Cash Withdrawal Slip from Download

PSB Bank Demand Draft Application Form Download

PSB Bank NEFT-RTGS Application Form Download

 

PSB Bank Nomination forms PDF file from Download

PSB Bank Housing loan from Download

 

for more refer Punjab and Sind Bank  website Click here

for more refer YouTube Subscribe website click here