Beneficiary |
Individual, Firm, HUF, Trust, Coop. Societies or a Company |
Purpose |
For the purchase of new vehicle for business and personal use. |
Loan Limit |
Maximum amount up-to RS. 15.00 Lakh or 80% of cost of vehicle. |
Rate of Interest |
10.50% |
Repayment Period |
Maximum 5 years. |
Collateral Security |
Two Good Securities as per satisfaction of the bank besides the hypothecation of the vehicle. |
Beneficiary |
Individual, Sole Prop., Professional and Partnership Firm. |
Purpose |
For the purchase of second hand vehicle. The Second hand vehicle should not be more than 4 years old. |
Loan Limit |
Maximum amount up to RS. 5.00 Lakhs or 75% of cost of vehicle or 1.5 times of income whichever is less. |
Rate of Interest |
12% |
Repayment Period |
Maximum 5 years |
Collateral Security |
Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle. |
Beneficiary |
An agriculturist having land in his own name or his family member. |
Purpose |
For the purchase of new two wheelers. |
Loan Limit |
Maximum amount up to RS. 0.50 Lakh. |
Rate of Interest |
12% |
Repayment Period |
Maximum 5 years with half yearly instalment. |
Collateral Security |
Two Good Sureties as per satisfaction of the bank |