Farmers Two Wheeler Loans
This loan is given to agriculturists to assist them to purchase a two wheeler. The loan is available at attractive rates of interest and can be repaid in easy instalments.
Features
- This loan is a hypothecation vehicle loan.
- It is eligible to all agriculturists who own farm land.
- It is for the purchase of a brand new two wheeler.
- Security for the loan will be the new two wheeler purchased out of bank finance.
| Charges and Limits | |
| Eligibility Loan | Rs. 40,000 per individual |
| Margin | 25% |
| Rate of Interest | 11% |
| Documentation charges | Rs. 150 |
| Repayment period | 3 to 5 annual installments or 6 to 10 half yearly installments, along with interest according to cropping pattern / income of the farmer |
For details of Processing Charges & Other charges, prospective customers are requested to contact nearby branches