| Beneficiary |
Individual, Sole Prop., Professionals and Partnership Firm. |
| Purpose |
For the purchase of second hand vehicle should be not more than 4 years. |
| Loan Limit |
Maximum amount up-to Rs. 5.00 Lac or 75% of cost of vehicle or 1.5 times of annual income whichever is less. |
| Rate of Intt |
14% |
| Margin |
25% |
| Repayment Period |
Maximum 5 years. |
| Collateral Security |
Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle. |
| Area of Operation |
Loan shall be advanced in the area operation in the Muktsar district. |