1 Maximum Limit Rs. 3.50 lacs per employee, per vehicle, however in exceptional cases loans up to Rs. 6.00 lacs can be considered.
2 Eligibility Employees of Government Department/Boards/ Corporations/ Statutory Bodies etc.
3 Purposes Purchase of Vehicles for self-use.
4 Eligibility Criteria 90% of the invoice price of vehicle to be purchased or Rs. 3.50 lacs which ever is less ensuring 35% take home salary by the loanee after payment of installment of loan.
5 Margin 10 %.
6 Repayment Period 15 Years.
7 Security Hypothecation of vehicle.