Loans for Commercial Vehicles

Purpose

For purchase of vehicles to be engaged in transportation business. e.g.Taxi, Bus, Truck etc.

Eligibility

Businessmen, Contractors, Transport operators, etc. with assured income.

Security

Hypothecation of Vehicle

Collateral on case to case basis

Term of Repayment

Maximum of 60 months

Margin

Minimum of 25% in case of new vehicles,

Minimum of 40% in case of 2nd hand vehicles upto 5 years old.

Rate of Interest

10.5% p.a. at monthly rest (vehicle for own business)

11%p.a at monthly rest (used for earning purposes) 

For further details about the scheme you may visit  any of the Branches or call Branch Manager.