Maximum limit : 70% of the on road price or Rs.60,00,000/-, whichever is lower.
Term: 5 yearly or 60 monthlyor as decided by the loan sanctioning authority.
Security: 1 personal surety as decided by the loan sanctioning authority from time to time. Borrowers as well as surety should become member of the financing institute of Bank as the case may be.Upto Rs.8 lakhs only HP of the Vehicle, above Rs.8 lakhs simple mortgage of the property.
Eligibility: - For Land holders – Commercial Crop Rs.70000/- per acre, Food Crops – Rs.15000/- per acre. For Salary class – Eligibility will be based on their home take salary. For professionals – based on their IT returns.