Priority Sector Loan
Retail Loan
Commercial Loan
OGB AGRI-TRANSPORT VEHICLES
 
  Objective
  • to provide hassle free credit for purchase of Tractor / other transport Vehicle for the purpose of cultivation /transportation of agricultural produces
 
  Eligibility

  • Individuals having special aptitude in transport business and also the farmers having interest in farm mechanization will be eligible to be financed under the scheme subject to satisfactory compliance of KYC norms
 
 Purpose
  • Purchase of Tractor and other Transport vehicles including three wheelers for the purpose of cultivation, carriage of agricultural produces and for providing transport facility to the farm houses
 Amount:
  • Maximum 85% of the cost of vehicle
 Margin
  • 15% of the cost price of the vehicle .
 Security :
  • Liquid security by way of Bank’s charge on TDRs / NSC (s)/ KVP (s)/ Surrender Value of LIC Policies / Advance Value of gold ornaments with present value of not less than 40% of the loan amount in addition to Bank’s hypothecation charge on the vehicle.
 Repayment :
  • Maximum 72 EMI
 Holiday Period :
  • 4 month
 Rate of Interest :
  • 100 basis points less than BPLR (Present BPLR 14.25%)
 Remarks :

  • The loan should be considered only for purchase of new vehicles.
 
 
For Form goto Forms Downlod dection .For further details, contact the nearest Branch