MSME Car Loan

At SBH size does not matter! We encourage businesses, be they micro, small, or medium. Our MSME Schemes are tailor-made for your business. Browse through our options now.
MSME Car Loan

Objective : To provide term loan to the promoter/partner of the SME units [having borrowing arrangements with the Bank and/or maintaining current account satisfactorily for a period of one year] or to their family members either in their own names or in the unit’s name (i.e in the name of the Company, Partnership firm / Proprietorship firm) for purchase of New passenger cars, jeeps, multi utility vehicles (MUVs) and sports utility vehicles (SUVs) etc. OR Pre-owned Cars/ Jeeps/ MUVs/ SUVs.

Features
Eligibility : The loan can be extended to as many promoters/partners and even their family members.
Net annual income must be `75,000/-
Quantum of Loan : 3 times of Net Annual Income
No ceiling for New vehicles [For old vehicles `15.00 lacs only]
Repayment : New vehicles – Repayable in 84 months
Old Vehicle – Loan should be liquidated when vehicle life completes 7 years
Margin : 15%
Security : Primary : Hypothecation of vehicle.
Interest Rate : CLICK HERE to view interest rates
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