Green Car
KVB Green Car is a loan specially designed to purchase new Car, Jeep, Van, Maxi truck for supervising agricultural operations / management of farm / estate and for transportation of agricultural products / inputs, labour, etc.,
Features and Benefits
| Loan Amount | Minimum of Rs. 2 Lakhs to Maximum limit Rs. 15 Lakhs. |
| Margin | Minimum 25%. |
| Disbursement | The loan to be disbursed directly to the car dealer / Vendor. |
| Processing Charges | 0.25% With a minimum of Rs. 500/- and maximum of Rs. 1,000/-. |
| Primary Security | Hypothecation of the vehicle. |
| Collateral Security | Mortgage of land (Not compulsory). Post Dated Cheques. |
| Guarantor | Personal Guarantee of a third Party. |
| Repayment | Maximum repayment period 7 years (Monthly / Quarterly / Half-Yearly based on cash flow or nature of activity). |
| Insurance | Comprehensive insurance of the vehicle for the market value. |
Eligibility
- The applicant should be an agriculturist having sizable own lands (Minimum 5 acres of land).
(or)
Agriculturists adopting heterogeneous activities, mixed farming practices such as Dairy, Poultry, Fisheries, Sericulture, Beekeeping, Vegetable farm, Horticulture, Plantation, Nursery, Seed Organisers or other such activities with seasonal crops. - Age 21 to 65 years.
- Maximum 2 Applicants. The vehicle should be registered in the first applicant’s name.
Interest Rate
| Facility Type | ROI |
|---|---|
| Green Car | One year MCLR + 0.35% |
