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Purpose
For purchasing of new two/three/four wheelers/trucks/jeeps/pickup vans, Refrigerated Van, Delivery Vehicles, Mini Trucks, Vehicle with trolley etc. by the agriculturists.
Eligibility
Loan Limit
Type of Vehicle
Maximum loan amount
Two Wheeler
Rs. 1.00 lakh
Three wheeler
Rs. 5.00 lakhs
Four wheeler
Rs. 25.00 lakhs
Margin
15% of the cost of the vehicle. All other charges & Taxes like insurance charges & registration charges, etc. is to be borne by the Applicant.
Security
Hypothecation of vehicle & accessories.
Guarantee
Income criteria
OR
Repayment Period
2 Wheelers
Maximum 3 years including moratorium period
3 Wheelers
Maximum 5 years including moratorium period
4 Wheelers
Maximum 7 years including moratorium period
Max moratorium period of 6 months
Forms & Documents
Appropriate DPN note, Deed of Guarantee, Letter of continuity, Hypothecation agreement, Hypothecation of vehicle agreement, Mortgage deed ,Letter of general lien and setoff, Comprehensive insurance policy of vehicle with third party coverage ,Lien of Bank in RC book, Blank TTO forms -28,29,30&35. and any other document stipulated in sanction
Rate of Interest - Please click here to know our latest interest rates
Conditions apply.
For more details please contact our nearest branch