Saptagiri Milk Vendors Loan Scheme-Term Loan


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
Please refer to Loan Interest Rates Page
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
Designed by Yaswanth Gupta Bondada & Raghav Vellore