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Krishi Vaahan
Tailor made scheme for financing transport vehicles for Agriculture activities
Disclaimer
By clicking the link you will be redirected to the website of the third party. The third party website is not owned or controlled by Bank of India and contents thereof are not sponsored, endorsed or approved by Bank of India. Bank of India does not vouch or guarantee or take any responsibility for any of the contents of the said website including transactions, product, services or other items offered through the website. While accessing this site, you acknowledge that any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk and consequences.
The Bank of India and its affiliates, subsidiaries, employees, officers, directors and agents shall not be liable for any loss, claim or damage whatsoever including in the event of deficiency in the service of such third party websites and for any consequences of error or failure of internet connection equipment hardware or software used to access the third party website through this link , slowdown or breakdown of third party website for any reason including and resulting from the act or omission of any other party involved in making this site or the data contained therein available to you including for any misuse of the Password, login ID or other confidential security information used to login to this website or from any other cause relating to your access to, inability to access, or use of the site or these materials in accordance thereto Bank of India and all its related parties described hereinabove stand indemnified from all proceedings or matters arising thereto.
By preceding further to access the said website it is presumed that you have agreed to the above and also the other terms and conditions applicable.
- Attractive interest rate
- Loan available upto 90% of ex-showroom price of vehicle
- No Collateral for loans upto Rs.25.00 lacs for Farmers.
- Hassle free documentation
- Instant approval of loan.
- Attractive incentive/payout available for vehicle dealers under tie-up arrangement.
TAT
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| Upto Rs.160000/- | Above Rs.160000/- |
|---|---|
| 7 business days | 14 business days |
* TAT will be counted from the date of receipt of Application (complete in all respects)
Quantum of finance
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| Type of Borrower | New Vehicle | Second Hand Vehicle | Vehicles run on Non-Conventional Energy |
|---|---|---|---|
| Farmers | 2-wheeler- 2 lakh 3-wheeler- 5 lakh 4-wheeler- 25 lakh |
2-wheeler- Nil 3-wheeler- 2 lakh 4-wheeler- 8 lakh |
2-wheeler- 2 lakh 3-wheeler- 5 lakh 4-wheeler- 25 lakh |
| Individuals, proprietorship firms and cooperatives | Transport Vehicles- 25 lakh | Transport Vehicles- 15 lakh | Transport Vehicles- 25 lakh |
| Corporate, partnership firms including LLPs, FPO/ FPC and institutions | Transport Vehicles- 100 lakh | Transport Vehicles- 25 lakh | Transport Vehicles- 25 lakh |
For Purchase of
(i) New Vehicles
(ii) Second-hand Vehicles (upto 2 years old)
(iii) Vehicles run on Non-conventional Energy (excluding the vehicles exempted from registration and the tricycles).
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| Type of Borrower | Criteria |
|---|---|
| Farmers and Individuals | Max. Entry Age- 65 years |
| Proprietorship firms ,Corporate, partnership firms including LLPs, institutions, co-operatives | 2 years of existence |
| FPO/FPC | 1 year of existence |
Before applying you must have
- KYC documents(identity proof and address proof)
- Agri land holding documents for farmers, ITR/income certificate of last three year for non farmers.
- Quotation of vehicle proposed to be purchased.
Rate of Interest
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| Loan amount | Rate of Interest |
|---|---|
| Loan upto Rs.10.00 lacs | 1-Y MCLR+0.80% |
| Loan above Rs.10.00 lacs | 1-Y MCLR+1.30% |
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