|For purchase of brand new vehicles as business assets/ business purpose only. (Two wheelers, Passenger cars/vans/Jeeps) Goods carriers are not eligible to be purchased under this scheme.
|Existing and new customers under MSME – Mfg. and Services including Retail Traders
|Rate of Interest & Repayment
|Competitive rate of interest, which is linked to RLLR as per extant guidelines
Two Wheelers: Maximum 60 EMIs
Four Wheelers : Maximum 84 EMIs
|· Collateral: Continuation of existing collateral security for existing borrowers for loan amount above Rs.10 Lakhs or CGTMSE Coverage.
|Composite /loan Limit
|90% of the “On Road Cost” with a maximum of Rs. 25.00 lakhs
|10% on “On Road Cost”