Vehicle Loans

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.

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 3 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.

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.

Repayment Period

Maximum 5 years with half yearly instalment.

Collateral Security            

Two Good Sureties as per satisfaction of the bank