|Eligibility of borrower||* Having current / saving account holder of the Bank.
* Borrowers should have his own/ family member's/ guarantor's
residential or business property in their name in the Govt./
|Purpose of Loan||Purchase of new vehicles.|
|Quantum of finance||* Up to 80% of quotation value.
* In case of margin money deposited in fixed deposit with the bank, loan may be considered at 100% of quotation value.
|Repayment period||Maximum 36 months.|
|Rate of Interest||@ 13.50% p. a.|
|Security||* One personal guarantor.(If borrower has property).
* R.C. Book have to be deposited with the Bank.
* Vehicle to be insured comprehensive in with Bank clause.