- 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
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
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).
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
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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