Eligibility:

• Salaried Persons (Minimum gross salary Rs. 4000/-), Professionals & Self-employed Persons, Businessmen, Agriculturists.

Age:

• 21 to 60 years. In case of salaried persons, the loan should be repaid 3 months before the date of retirement.

Purpose:

• For purchase of a new engine driven two wheeler

Loan Amount:

• Maximum Rs.40,000/- including cost of insurance and Road Tax

Margin:

• 10% of the total cost on road.

Click here for Rate of interest

Click here for Processing Fees, Prepayment Penalty, Documentation Charges, Mortgage and other charges

Security:

• Hypothecation of Vehicle and registration with RTA with Bank clause.

• In case where recovery is tied up with Salaries, Guarantee from Spouse.

• In other cases, Guarantee from Spouse and Guarantee from 3rd party, or, existing security (collateral or liquid) in other loan.