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Vehicle Loan – HPSCB Vahan Rin Yojna


PARTICULARS DETAILS
Beneficiaries Regular/Contract Employees & Non-Employees
Purpose Purchase of New/Used Vehicle for Personal Use.
Eligibility
  1. Employees: 25 times of Gross Salary.
  2. Non-Employees: 2 times of Average Gross Salary.(Annual Income)
Security
  1. Employees:
    Salary Account or DDO Undertaking.
    OR
    Liquid Security 15% & One Guarantor
  2. Non-Employees:
    One Time Collateral Security & One Guarantor
    OR
    15% Liquid Security & One Govt. Employee Guarantor (upto Rs. 15 Lakh)
  3. Hypothecation, Insurance of Vehicle.

Quantum Rs. 60 Lakh (Maximum as per CMA norms)
Repayment
  1. Employees:
    New Vehicle: 10 Years
    Used Vehicle: 5 Years
    OR
    Whichever is earlier till the retirement of the employee.
  2. Non-Employee:
    New Vehicle: 10 Years
    Used Vehicle: 5 Years