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IFSC Code: UTIB0SMSA01 | Latest Scheme: |




      Vehicle for business and personal use


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.


      Second hand Vehicle Loan


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.


      Two Wheeler Loan to Farmers


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