Target Group

• Milk Vendors who are collecting milk either from retail or wholesale, supplying to various chilling plants.
• Preference will be given to vendors who are having tie-up with reputed Dairy units / Hotel/ Sweet stalls etc.

Purpose

• For purchase of Two wheeler/ Three Wheeler Autos/ Four Wheeler Autos (New Vehicle only) and Other accessories required (if any)

Quantum of Loan

• Up to 85% of total on-road price inclusive of registration, road tax and insurance subject to the maximum of 3.00 lakh.

Age

• 18-55 Years

Margin

• 15% of total on-road price as per the quotation

Rate of Interest

Security

• Hypothecation of Vehicle
• Mortgage of landed property/ house site when the loan amount exceeds 1.60 lakh. This includes existing KCC/ ATL/ AATL loans.
• The security coverage to loan should be 200%.

Lien

• Bank’s lien should be noted in RC Book.

Repayment Period

• Max 36 EMIs & No holiday period

Guarantee

• Third party guarantee from a solvent person

Processing Charges

• 1% + GST

How to Apply

• Please contact nearest Saptagiri Grameena Bank Branch for more details