|
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 2.00 Lakhs: NIL Above Rs 2.00 Lakhs to Rs 10.00 Lakhs: Third Party Guarantee Above Rs 10.00 Lakhs : 50 % of loan + Third Party Guarantee |
|
Interest Rate |
A) *(1.) Farmers (Two wheeler and Four wheeler) : MCLR + 0.15% *(2.) Others Transport Vehicle : MCLR + 0.50%
B) *(1.) Agri Business, Service Centers and Allied Activities (Two wheeler and Four wheeler) : MCLR + 0.15% *(2.) Others Transport Vehicle : Up to Rs 10.00 Lakh : MCLR + 0.50% Above Rs 10.00 Lakh to Rs 25.00 Lakhs : MCLR + 1.05% |
|
Repayment |
5 TO 7 Years |
