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
70% of cost of Brand new vehicle intended to be purchased (subject to repayment capacity of the borrower).
Security
- 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.
