|
Purpose |
* To provide Finance for purchase of all type of vehicles i.e Two/Four/ Transport vehicle |
|
Eligibility |
Farmers/Group of farmers/firms/Companies engaged in farming and /or in allied and ancillary activities |
|
Nature of facility |
Term Loan |
|
Quantum of Loan |
Farmers: Rs 2.00 Lakhs To Rs 15.00 Lakhs Others engaged in Agri allied /ancillary activities: Rs 2.00 Lakhs to Rs 25.00 Lakhs |
|
Margin |
Two Wheelers : 10% Four Wheelers/Transport vehicles:15% |
|
Security |
Hypothecation of vehicle Collateral Security: Up To Rs 1.60 Lakhs: NIL Above Rs 1.60 Lakhs to Rs 10.00 Lakhs: Third Party Guarantee Above Rs 10.00 Lakhs : 50 % of loan + Third Party Guarantee |
|
Interest Rate |
Farmers : MCLR + 0.15% To MCLR+0.50% Others : MCLR + 0.15% To MCLR+1.50% |
|
Processing Charges |
* UptoRs25,000/- : Nil |
|
Documentation Charges |
Up to Rs 2.00 Lakhs :Nil Above Rs 2.00 Lakhs to Rs 25.00 Lakhs: Rs 50.00 per Lakhs |
|
Repayment |
5 TO 7 Years |
