Vehicle Loans >> Second Hand Vehicle Loan
Beneficiary |
Individual, Sole Prop., Professional and Partnership Firm. |
Purpose |
For the purchase of second hand vehicle. The Second hand vehicle should not be more than 4 years old. |
Loan Limit |
Maximum amount up to RS. 5.00 Lakhs or 75% of cost of vehicle or 1.5 times of income whichever is less. |
Rate of Intt. |
9.50% |
Repayment Period |
Maximum 5 years |
Collateral Security |
Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle. |
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