V Vehicle

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

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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

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10

Repayment

Maximum 84 months.

11

Application with checklist

 

Click Here for Application form

Click Here for Check List

 

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