Vehicle Loan (Including Electric)

Purpose: To buy new vehicle.

Quantum of finance: 90% of the quotation.

Limit: Upto 60 lakhs. (Upto Rs.15 lakhs Branch Manager has a power to sanction)

Term: 7 annual instalment/ 84 months EMI for 4 wheeler.

3 annual instalment/ 36 months EMI for 2 wheeler. 

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