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With a view to assisting unemployed persons to earn their livlihood, the Bank grants loan facility to purchase Auto Rickshaw, Taxi, Tempo etc. The Bank also extends loan facility to assist individuals \ businessmen to purchase vehicle for their personal \ business use.
Quantum of loan amount is to be computed based on the margin stipulated by H.O. both for New Vehicle and Old Vehicle. This is advised from time to time on the basis of the policy formulated by the Board.
Period of Re-Payment(Maximum) : 5 years
The disbursement should be made directly to the dealer. The borrower should deposit the margin money with the bank so that full payment can be made to the dealer.
Two sureties having adequate net worth.