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Purpose
For purchase of vehicles to be engaged in transportation business. e.g.Taxi, Bus, Truck etc.
Eligibility
Businessmen, Contractors, Transport operators, etc. with assured income.
Security
Hypothecation of Vehicle
Collateral on case to case basis
Term of Repayment
Maximum of 60 months
Margin
Minimum of 25% in case of new vehicles,
Minimum of 40% in case of 2nd hand vehicles upto 5 years old.
Rate Of Intrest
10.5% p.a. at monthly rest (vehicle for own business)
11%p.a at monthly rest (used for earning purposes)
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