V VEHICLE

1

Purpose

• Financial assistance for purchase of new passenger transport vehicles for students & employees by educational institutions and Corporates.

2

Eligibility

• Educational institutions/reputed companies and firms for transportation of their own students/ employees.
• Individuals, Proprietary concerns, Partnership firms, Companies engaged in providing the transport facility to Students/Employees, having tie-up arrangements for a minimum period of FIVE Years with these educational institutions/firms/companies.
  

3

Nature of facility

• TERM LOAN
  

4

Quantum of Loan minimum/maximum.

• Maximum  Rs.300.00 lakhs
  

5

Margin

20%

6

Rate of interest

Click here

7

Guarantor

• Personal guarantee of partners, promoter directors.
• Personal guarantee of property owner/s whose property is offered as security.
• All other cases, suitable 3^rd party guarantee acceptable to the bank.

8

Security

• Hypothecation of vehicle/s acquired out of bank finance & collaterally to be secured by mortgage of property

9

Processing fees/other charges

Click here

10

Repayment

Maximum 84 months.

11

Application with checklist

Click Here for Application form

Click Here for Check List