Any person with assured monthly Income acceptable to the Bank.

Any person with assured monthly Income acceptable to the Bank.

Any person with assured monthly Income acceptable to the Bank.

Purchase of used vehicle below 5 years

Reducing balance

-10.50%

i)650 and above - 8.75%

ii)600 to 649- 9.25%

iii) (-1)    - 8.75%

EMI   

2 wheeler - 12.00%

Reducing balance

- 11.50%

a) New

i)650 and above - 9.50%

ii)600 to 649- 10.00%

iii) (-1)    - 9.50%

b)Used

i)Commercial Vehicle upto Rs. 10 Lakh - 11.00%

ii) Commercial Vehicle above Rs. 10 Lakh - 11.50%

iii) Boat Repair / Vehicle Repair - 9.50%

EMI           

Upto 25 lakhs - 11.00%

Above 25 lakhs - 10.50%

Above 1 crore - 10.00%

Reducing balance

- 13.50%

EMI       

LMV Private Vehicle upto 10 lakhs - 11.50%

LMV Private Vehicle above 10 lakhs - 13.00%

LMV Commercial Vehicle upto 10 lakhs - 12.00%

LMV Commercial Vehicle above 10 lakhs - 13.00%

Other vehicles - 13.00%

Hypothecation loans on machinery(New) - 12.00%

Second hand School Buses - 9.50%

Depending upon the model of the vehicle

Minimum one guarantor with sufficient net worth

Minimum one guarantor with sufficient net worth

New vehicle and additional security insisted by the Bank

Maximum 85% of the Invoice value .

In case of heavy commercial vehicles, an additional of 50% of the invoice will be advanced for Body building subject to providing additional security.

For Used Three, four wheelers and above.

(maximum 5 years old) valuation to be done by panel of surveyors and advance from 50% to 70% of the valuation, based on the model of the vehicle.

Membership is necessary for the borrower and sureties to avail this loan.