1. You are eligible if: You have a gross income of more than Rs.75,000/- p.a. for loan for purchase of motor cycle / scooter and more than Rs.1.50 lacs p.a. for loan for purchase of cars.You are a partnership firm / company for purchase of car. The firm / company should be profit making for the last 2 years. The net profit as per Audited Balance Sheet of last year should be more than Rs.3.00 lacs.<br /> Loan Amount <br />Upto Rs. 50,000/- for purchase of a new two wheeler.<br />Upto Rs. 8 lakhs for purchase of a new car.<br /> Margin <br /> 20%<br /> Rate of Interest <br />Repayable in 3 years 11.50%<br />Repayable in > 3 yrs. 11.75%<br />For Old Cars 12.75%<br />(repayable in 3yrs)<br /> INTEREST CHARGED ON DAILY REDUCING BALANCE<br /> NO PREPAYMENT CHARGES <br /> Security <br /> Hypothecation of the vehicle purchased.<br /> Mode of disbursement <br /> Loan disbursed directly to the authorized dealer.<br /> Process Fees <br />Two wheeler- Rs. 500/-<br />Four wheelers: For loans upto Rs. 2.50 lacs, Rs. 1,000/-. For loans above Rs. 2.50 lacs to Rs. 7.50 lacs, Rs. 1,500/- For loans above Rs. 7.50 lacs, Rs. 2,500/-.<br /> Repayment <br /> Upto 60 EMIs (For new vehicles) & upto 36 EMIs (For old Vehicles).<br />