Bank Auction Alert: Maruti Suzuki Swift VDI Available at ₹1.98 Lakh – Complete Details & How to Participate
This bank auction offers a Maruti Suzuki Swift VDI at an attractive starting price of ₹1.98 lakh, making it a strong opportunity for buyers looking for economical vehicles. However, since it is a repossessed asset, due diligence is extremely important.
4/21/20262 min read
If you are looking for a budget-friendly used car through a bank auction, this is a valuable opportunity. A vehicle has been listed for sale through an official e-auction conducted by Canara Bank via the Baanknet platform. Below is a complete report covering loan background, vehicle details, auction process, and participation guidelines.
📌 Overview of the Auction
The vehicle is being auctioned due to loan default by the borrower. As per the official notice issued by Canara Bank, the borrower failed to repay dues under a vehicle loan agreement dated 02.07.2015, resulting in the account turning into an NPA (Non-Performing Asset).
According to the official notice, the total outstanding liability as of 10.04.2026 is ₹16,80,017.25 .
The bank has taken possession of the vehicle and is now selling it through an online e-auction to recover dues.
🚗 Vehicle Details
Vehicle Type: 4-Wheeler
Model: Maruti Suzuki Swift VDI
Registration Number: KA 02 MK 6444
Condition: Sold on “As Is Where Is” basis
Quantity: 1 unit
This means buyers must inspect and verify the vehicle condition themselves before bidding.
💰 Price & Deposit Details
Reserve Price: ₹1,98,000
Earnest Money Deposit (EMD): ₹19,800
The reserve price is the minimum price set by the bank. Bidding starts above this amount.
📅 Important Dates
Inspection Date: 04/05/2026 (11:00 AM – 4:00 PM)
Auction Date: 05/05/2026
Mode: Online e-auction
🏦 Auction Platform & Registration
The auction is conducted via the Baanknet platform (operated by PSB Alliance Pvt. Ltd.).
To participate:
Visit the Baanknet website
Register using:
PAN Card
Aadhaar
Mobile number (linked with Aadhaar)
Complete KYC verification
Deposit EMD before bidding
📑 Terms & Conditions (Important Highlights)
The vehicle will be sold strictly on “As Is Where Is” and “As Is What Is” basis
Minimum bid increment: ₹10,000
Successful bidder must:
Pay 25% immediately (including EMD)
Pay remaining 75% within 15 days
Failure to pay balance will result in EMD forfeiture
All charges like:
RTO transfer
GST
Stamp duty
Documentation
must be borne by the buyer
⚠️ Key Risks & Advice
Before bidding, keep these practical points in mind:
Inspect the vehicle physically
Check RC, insurance, and pending dues
Understand repair costs (vehicle condition may not be perfect)
Ensure proper transfer after purchase
📊 Why This Auction is Attractive
Very low reserve price compared to market value
Direct bank sale (no middlemen)
Transparent bidding system
Good opportunity for:
Used car buyers
Dealers
Resellers
🧾 Conclusion
This bank auction offers a Maruti Suzuki Swift VDI at an attractive starting price of ₹1.98 lakh, making it a strong opportunity for buyers looking for economical vehicles. However, since it is a repossessed asset, due diligence is extremely important.
If you are experienced in used vehicle purchases or looking for resale opportunities, this could be a profitable deal.