| 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. |