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Purpose
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* To purchase Two/Four wheelers for agricultural purpose.
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Eligibility
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*Two Wheeler: Existing borrower enjoying a limit of Rs.1.00 Lakh & Above
*Four Wheeler: Existing borrower enjoying a limit of Rs.2.50 Lakhs & above in
case of CKCC/CKGC holers & Rs.1.00 Lakh & Above in case of other allied activities.
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Nature of facility
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* Term Loan
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Quantum of Loan
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* 2 Wheeler - 90%
* 4 Wheeler - 80%
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Margin
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* 2 Wheeler - 10%
* 4 Wheeler - 20%
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Insurance
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* Assets created out of loan have to be insured in full value
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Interest Rate
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Upto Rs.50,000/-
Above Rs.50,000/- upto Rs.5.00 lacs
Above Rs.5.00 lacs upto Rs.25 lacs
Above Rs. 25 Lakhs
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MCLR + 0.50%
MCLR + 1.00%
MCLR + 1.50%
MCLR + 2.00%
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Processing Charges
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* Rs.120/- per lakh (0.12%) or part thereof subject to maximum Rs.20000/-
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Documentation Charges
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* NIL
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Repayment Period
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* 2 Wheelers - Within 5 Years
* 4 Wheelers - Within 7 Years
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Security
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* Hypothecation of vehicle
* Guarantee of two persons OR Creation of Mortgage / charge on land
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For further details, please contact our nearest branch.
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