Eligibility Criteria:
- Individuals, Company, Partnership, LLP engaged in civil contract activities..
Purpose:
- Purchase of new vehicles/second hand vehicles (including JCB, tractors which are registered with RTA).
- Purchase of new machineries required for civil contract activities.
Maximum Amount:
- Based on requirement of the civil contractor with a maximum of ₹1000 lakh.
Maximum period of Loan:
- New vehicles/ machineries: Maximum 84 months.
- Used vehicles: Depending upon the residual life of vehicle, maximum up to 48 months.
Security:
- Hypothecation of vehicle / machineries to be purchased
Repayment:
- In Equated Monthly Installments (EMI).
Margin:
- New vehicles/machineries : 10%-15% on the cost.
- Old vehicles : 30% of cost
Rate of interest:
As per MCLR guidelines
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
