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. |