Second Hand Vehicle Loan

Purpose: To buy second hand vehicle.

Quantum of finance: 70% of the value appraised by the valuator of the bank.

Limit: Upto 60 lakhs.

Term:  5 annual instalment/ 60 months EMI for 4 wheeler.

Security: Hypothecation ( To the loan above 15 lakhs charges should be created on the collateral security.