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Vehicle Loans >> Second Hand Vehicle Loan

Beneficiary

Individual, Sole Prop., Professional and Partnership Firm.

Purpose

For the purchase of second hand vehicle. The Second hand vehicle should  not be more than  4 years old.

Loan Limit

Maximum amount up to RS. 5.00 Lakhs or 75% of cost of vehicle or 1.5 times of income whichever is less.

Rate of Intt.

13.00%

Repayment Period

Maximum 5 years

Collateral Security

Two Good Sureties as per satisfaction of the bank besides the hypothecation of the vehicle.