Beneficiary

Individual, Sole Prop., Professional and Partnership Firm.

Purpose

For the purchase of second hand vehicle. The Second hand vehicle should not be more than 3 years old.

Loan Limit

Maximum amount up to RS. 5.00 Lakhs or 75% of cost of vehicle or 1.5 times of income whichever is less.

Repayment Period

Maximum 5 years

Collateral Security            

Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle.