Vehicle Loan Scheme

Beneficiary Individual, Firm, HUF, Trust, Coop. Societies or a Company.
Purpose For the purchase of new vehicle for business and personal use.
Loan Limit Maximum amount up-to Rs. 15.00 Lac or 80% of cost of vehicle or 4 times of annual income whichever is less.
Rate of Intt 12.00% 
Margin 20%
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.