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
|
|
4
|
Quantum of Loan minimum/maximum.
|
|
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 3rd 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
|