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Two Wheelers (Motorcycle/Scooter) loan to farmer

Particulars Guidelines under the scheme
Purpose
  • Purchase of New Two Wheelers (Motorcycle / Scooter)
Eligibility
  • All new and existing farmers engaged in Agriculture and / or allied activities.
Quantum of Loan Maximum - 3.00 lac
Nature of facility Term loan/Demand Loan
Rate of Interest One year MCLR + Strategic Premium
Margin For Loan amount upto Rs.1 Lac - 10%
For Loan amount above Rs.1 Lac - 25%
Repayment Period Repayment Schedule to coincide with harvesting season. (As per Banks Norms). Maximum period – Not exceeding –5- years.
Security
  • Hypothecation of vehicle

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