Objective: This loan finances purchase of consumer goods two wheeler/four wheeler vehicles.
Eligibility:
(a) Applicant must be permanent employee serving in bank’s area of operation. Service should not be transferable outside bank’s area of operation.
(b) Person must have a regular source of income.
Quantum of Loan:
(a) Maximum 15 months salary or cost of projects which ever is less subject to a maximum of Rs. 1.50 lakh is granted as loan. This is subject to margin.
(b) For two wheeler, the maximum amount granted as loan is 1 lakh, which is subject to margin.
(c) For four Wheeler, the maximum amount granted as loan is 5.00 lakh. This is subject to margin.
Margin: There is a margin for the loan.
Type of facility: Team loan
Repayment Period: The repayment has to be done within 48 month to 84 months.