Loan against bond / Securities
Objective
For enabling our valued and potential customers including Farmers /KCC holders to purchase new two wheelers for their personal use.
Eligibility
Individuals with regular and independent source of income from Trade/ Business/ Profession/Employment.
Purpose
For purchase of new Two Wheelers of any make as per the choice of the borrower.
Amount
Rs.60, 000/- or 85% of cost of the vehicle (on Road price) whichever is less.
Margin
15% of the cost price of the vehicle.
Security
Hypothecation of Two Wheeler to be purchased out of Bank Finance. Liquid security, if any, offered/stipulated by bank.
Repayment
Maximum 48 EMI.
Holiday Period
1 Month.
Rate of Interest
11.00 % to 12.50 %
Remarks
The two wheeler is to be purchased from authorized dealers/suppliers and will remain hypothecated to the Bank till full liquidation of loan with interest and other charges.