Individuals (singly or jointly), Farmers, Agricultural labourers, Self-Help Groups (SHGs) and Joint Liability Groups (JLGs).
ELIGIBILITY
Above 18 yrs
Agriculturist / Farmers
Income Criteria
Minimum net annual Income > ₹ 3 Lakh (> ₹ 25,000 / - p.m) Clubbing the Income of spouse is permitted (proof is to be attached)
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
Largest Branch Network in
Mizoram.
Mizoram Rural Bank Head Office : MINECO,Khatla Aizawl - 796001 Mizoram
