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.