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Canara Bank

MSME VAHAN

Bank Canara Bank
Scheme MSME VAHAN
Description 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.
Eligibility 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

Repayment:

Two Wheelers: Maximum 60 EMIs

Four Wheelers : Maximum 84 EMIs

Collateral ·        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
Margin 10% on “On Road Cost”
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