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MR. PRAKASH P. MALLYA

Vijaya Bank has the highest number of branches in its home state Karnataka. During the financial year 2007-2008 the bank has opened 73 Branches of which 5 extension counters were upgraded . In line with the prevailing trends, the bank has been giving greater thrust towards technological upgradation of its operations.

The bank has network of 1053 branches, 47 Extention Counters and 296 ATMs. [ As at 13.06.2008] 750 branches,38 extention counters, 11 service branches are functioning on CBS platform, and at 368 centers, covering 93.30 % of Bank's business. Realising your constantly evolving and diverse needs, the bank has diversified too.

Entering several new areas such as credit card, merchant banking, hire purchase and leasing, and electronic remittance services. 747 - Branches /offices are

under RTGS and 746 - Branches / offices are under NEFT Vijaya Bank is one among the few banks in the country to take up principal membership of VISA International and MasterCard International. The driving force behind Vijaya Bank's every initiative has been its 11528 strong dedicated workforce.


Vijaya Bank, was founded on 23rd October 1931 by late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. The objective of the founders was essentially to promote banking habit, thrift and enterpreneurship among the farming community of Dakshina Kannada district in Karnataka State.

The bank became a scheduled bank in 1958. Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with it during the 1963-68. The credit for this merger as well as growth goes to late Shri M.Sunder Ram

Shetty, who was then the Chief Executive of the bank. The bank was nationalised on 15th April 1980. The bank has built a network of 1053 branches,47 Extention Counters and 296 ATMs as at 13.06.2008, that span all 28 states and 4 union territories in the country.


Purpose

  • For purchase of new motorcar of any make for private use or professional or business use.

Eligibility

1. Salaried persons satisfying the following conditions

    a. Individual aged between 21 years and 60 years
    b. He / She is a permanent employee of :
      1. State / Central Government, the Defence / Police force or Autonomous Body.
      2. A public sector / joint sector undertaking or a Corporation.
      3. Reputed Public Limited Company.
      4. An established education institution / aided college / school.
      5. Any private establishment
    c. He / She has a minimum service, so as to ensure that the entire liability is liquidated at least one year prior to his / her retirement.

2. Corporate Clients & Partnership Firms

Quantum of Loan

  • Loan up to 80% of the cost / invoice value of the vehicle including accessories and registration expenses can be approved in case of new vehicles.
  • In case of second hand / used vehicles (not exceeding five years) 50% of the market value given by the Approved valuer / Govt. valuer which ever is less.

Rate of Interest

With effect from 15.02.2008 [BPLR = 13.00%]
Period Slab Rate of interest per annum (Floating)
Repayable upto 3 years 10.50% [BPLR - 2.50 %]
Repayable beyond 3 but upto 7 years 11.00% p.a. [BPLR - 2.00 %]
 
[Above rates is applicable for Individuals and Corperate clients/Partnership Firms]

Repayment

Entire loan has to be repaid with interest in not more than 60 equated monthly instalments

Security

Hypothecation of vehicles purchased out of bank finance. HP is to be got noted in RC book issued by the RTA.

Insurance

The vehicle purchased out of bank finance is to be comprehensively insured to its full value with Bank’s Clause.

Guarantor

A person acceptable to the Bank will be taken as Guarantor.

Vijaya Bank, was founded on 23rd October 1931 by late Shri A.B.Shetty and other enterprising farmers in Mangalore, Karnataka. The objective of the founders was essentially to promote banking habit, thrift and enterpreneurship among the farming community of Dakshina Kannada district in Karnataka State.

The bank became a scheduled bank in 1958. Vijaya Bank steadily grew into a large All India bank, with nine smaller banks merging with it during the 1963-68. The credit for this merger as well as growth goes to late Shri M.Sunder Ram

Shetty, who was then the Chief Executive of the bank. The bank was nationalised on 15th April 1980. The bank has built a network of 1053 branches,47 Extention Counters and 296 ATMs as at 13.06.2008, that span all 28 states and 4 union territories in the country.


Purpose

  • For purchase of second hand / used motorcar of not more than 5 years old.

Eligibility

1. Salaried persons satisfying the following conditions

    a. Individual aged between 21 years and 60 years
    b. He / She is a permanent employee of :
      1. State / Central Government, the Defence / Police force or Autonomous Body.
      2. A public sector / joint sector undertaking or a Corporation.
      3. Reputed Public Limited Company.
      4. An established education institution / aided college / school.
      5. Any private establishment
    c. He / She has a minimum service, so as to ensure that the entire liability is liquidated at least one year prior to his / her retirement.

2. Corporate Clients & Partnership Firms

Quantum of Loan

  • Loan up to 80% of the cost / invoice value of the vehicle including accessories and registration expenses can be approved in case of new vehicles.
  • In case of second hand / used vehicles (not exceeding five years) 50% of the market value given by the Approved valuer / Govt. valuer which ever is less.

Rate of Interest

With effect from 15.02.2008 [BPLR = 13.00%]
Period Slab Rate of interest per annum (Floating)
Repayable upto 3 years 10.50% [BPLR - 2.50 %]
Repayable beyond 3 but upto 7 years 11.00% p.a. [BPLR - 2.00 %]
 
[Above rates is applicable for Individuals and Corperate clients/Partnership Firms]

Repayment

Entire loan has to be repaid with interest in not more than 60 equated monthly instalments

Security

Hypothecation of vehicles purchased out of bank finance. HP is to be got noted in RC book issued by the RTA.

Insurance

The vehicle purchased out of bank finance is to be comprehensively insured to its full value with Bank’s Clause.

Guarantor

A person acceptable to the Bank will be taken as Guarantor.





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