| Purpose |
To purchase 2 wheeler to support the existing income generating activity. |
| Eligibility |
The borrower should possess valid driving license. Branchesshall ascertain credit worthiness of the business & repaying capacity of the borrower. |
| Quantum Loan |
80% of on road price of the vehicle (inclusive of Insurance, Road Tax, Registration charges & accessories limited to maximum of Rs.5000/-) or Rs.1 lakh, whichever is less. |
| Margin |
20% |
| Rate of Interest |
11.50%pa |
| Repayment Period |
Repayable in 60 EMI |
| Security |
Hypothecation of Vehicle |
| Co-oblignat/ Surety |
Solvent third party / ieswith sufficient net worth acceptable to the Bank shall be obtained. |
