Two Wheeler Loan
Objective
For enabling our valued and potential customers including Farmers /KCC holders to purchase new two wheelers for their personal use.
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.