Second Hand Car Loan


Second Hand Car Loan

Beneficiery Individual, Firm
Purpose Purchase of  Second Hand Vehicle (Should be not more than  4 Yrs Old)
Loan Limit Max.Rs.5.00 Lacs or 75% of cost of vehicle or 1.5 times of annual income whichever is less.
Rate of interest upto 3yrs-8.99% , above 3 yrs 8.99%*(upto 31-12-2017)
Margin 25.00%
Repayment Max. 5 yrs.
Collateral security Two Good  surities, Insurance & Hypothecation of Vehicle.
area of operation Loan shall be advanced in the area operation of Distt. Kapurthala
Processing Fee 50% Processing fee on Vehicle loan is waived off till 31-12-2017
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