| Purpose |
Purchase of Two Wheeler
(Scooter/Motor Cycle / Moped) |
| Eligibility |
a. Permanent employees of Central/State Government,
Defence establishments and Public Sector organizations.
b. Profit making private sector organizations.
c. Minimum net salary Rs.1000/- per month.
d. Deductions (inclusive of proposed deductions for loan
being considered under the scheme) should not exceed 33%
of gross income. |
| Nature of Advance |
Term Loan. |
| Margin |
10% |
| Loan Amount |
Upto 12 times the net monthly income
or 90% of the cost
The vehicle and essential accessories (but excluding registration,
insurance and other incidental charges) whichever is less. |
| Security |
Hypothecation of vehicle. |
| Insurance |
Comprehensive Insurance. |
| Repayment |
As per option of 36, 48, 60 Equated
Monthly Instalments. |
