| Nature of Loan | Term Loan |
| Tenure of Loan | Maximum 07 Years |
| Eligible borrower | Individuals as well as business concern (Corporate / Non-Corporate) |
| Age | 65 Years |
| Purpose |
(i) For Purchase of Indigenous / foreign makes car, Jeep / Multi Utility vehicle (MUV) (ii) For Purchase of Indigenous heavy vehicles |
| Loan Amount Ceiling | Rs.75.00 Lacs |
| Analysis of loan | As per bank policy/ Naik Committee |
| Requirement | |
| Margin of Borrower | 15% of on road pro forma invoice of the vehicle. |
| Security | The vehicle purchased with the mount of loan is to be hypothecated to the Bank. It will be registered in the name of the borrower & hypothecated in the name of the Bank. |
| Documentation required | As per the requirement in the loan file check list |
