Vehicle Loan(Commercial Use )

Purpose:

•  Purchase of brand new three wheeler/four wheeler vehicle for commercial use, such as Auto-Riksha, Loading taxi, Taxi car, Cab, Bus, Truck, Tractor, JCBs etc.

Who are eligible : All individuals, firms and companies.

Loan amount

80% of cost of Brand new vehicle intended to be purchased (subject to repayment capacity of the borrower).

Security

•  1. Hypothecation of vehicle (hypothecation clause in favour of Bank will have to be got included in the Registration Certificate of the vehicle purchased out of Bank finance).
•  Third party guarantee.

Repayment Maximum in 60 EMIs.