| Purpose for Buying Vehicles |
Purchase of New Two,/Three wheeler, Used four Wheeler |
| Who can Eligible |
- Salaried employees, Businessmen, professional self employed,
- and Commercial Vehicle for business purpose.
|
| Loan Amount |
75 % of Quotation of vehicles (Basic price) |
| Margin |
25 % |
| Rate of Interest |
Two Wheeler - 11.00%
Three Wheeler - 11.00%
Used Four Wheeler - 12.00%
|
|
Used vehicle up to three years- 50 % to 70 % of Valuation |
| Repayment Period |
Two Wheeler, Three Wheeler – Maximum 36 months
Used Four Wheeler – Maximum 36 months.
|
| Processing fee |
Nil |
| Guarantee |
Two guarantor possessing property and also Income tax-payer. |
| Security |
Hypothecation of Vehicles |
| Share linking |
2.5% of Sanction loan amount |
