PURPOSE

To Purchase new Vehicle for Personal use.

TARGET GROUP

Individuals (singly or jointly), Farmers, Agricultural labourers, Self-Help Groups (SHGs) and Joint Liability Groups (JLGs).

ELIGIBILITY

• Above 18 yrs
• Agriculturist / Farmers
• Income Criteria
1. Minimum net annual Income > ₹ 3 Lakh (> ₹ 25,000 / - p.m) Clubbing the Income of spouse is permitted (proof is to be attached)
2. Net Monthly Income >2 X Monthly Installment .(Where the cost of vehicle is less than ₹ 3 Lakh, only first)

QUANTUM OF LOAN

Maximum of ₹ 10 Lakhs or 85% of On-Road price.(On-Road price include cost Accessories not more than 2% of ex-showroom price + registration + insurance premium for one year only) whichever is less

MARGIN

• Min 15% of on-road price

INTEREST RATE

• As Pescribed by the Bank,Interest will be applied on monthly compounding basis