• For purchase of vehicles (construction of body thereon) including bus/ truck/ tipper/ tractors/ excavator/ heavy equipments/ etc. for commercial purpose

For Individual:

• Repayment is to be ensured within 65 years of age
• Net income to be minimum 150% of the EMI obligation.

For Business firms/concerns:

• For existing business firms/concerns (this business should be running since at least last 1 year and generating cash profits)
• For new business less than 1 year’s operations, repayment can be considered on future cash flows based on realistic projections.
• Debt Service Coverage Ratio to be minimum 1.50:1

• Need Based

• 50.00% for personal purpose
• 20%- Electric Vehicle
• 25% -For public vehicle (with minimum 40 seats), construction, tourism, education, health, and transportation

• Competitive rate(subject to change)

• up to 5 years

• Registration of vehicle in the name of bank
• Acceptable Collateral security
• Personal guarantee of person(s) acceptable to the Bank shall be obtained.

• Comprehensive policy with third party insurance as per banks’ clause.