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Eligibility : |
- Age : 21 – 65 years.
- Prof & self employed Persons, Employees of Govt. / Semi Govt., Any other reputed institutions.
- Agriculturist: 5 Acre irri. or 10 Acre Dry land
(cultivable if no other term liability is there).
- Trader, Manufacturers and others.
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Rate Of Int :
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See the Rate |
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Repayment Period :
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- Within 7 years for new vehicles.
- If old vehicle, repayment period should not exceed 7 years form original sale date.
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Proposal Processing Charge:
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NIL
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Margin :
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- Upto Rs. 6 lakhs : 15 %
- Above Rs. 6 lakhs : 30 %
- For used car : 30% on valuation report from Govt. approved valuer.
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Max & Min Loan:
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Rs. 15.00 lakhs OR 30 times of net monthly income in case of salaried person. In other cases 2.5 times of net annual income
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Moratotium : | |
Security : |
Primary
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Hypothecation of vehicle.
- Advance post dated cheques or check off facility.
Collateral
- Security by way of pledge of LIC / NSC to cover at least 35 % of value or Third Party Guarantee / Third Party Guarantee of Spouse
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