Karnataka Gramin Bank

Mobile Loan - For Used Vehicles

  • Purpose
  • Eligibility
  • Loan Amount
  • Margin
  • Repayment
  • Quantum of Loan
  • Security
  • Repayment
  • Insurance

Purpose

Purpose

Purchase of second hand/used vehicles

Eligibility

Eligibility

  • Older than 5 years

Loan Amount

Loan Amount

  • If the value of the vehicle

Margin

Margin

  • 50%

Repayment

Repayment

  • 5 Years

Quantum of Loan

Quantum of Loan

2 years net income or 50% of the value of the vehicle, whichever is less

Security

Security

Up to Rs.10.00 lakhs:

  • Hypothecation of the vehicle
  • Co-obligation
  • Collateral if available

Repayment

Repayment

  • 60 Months

Insurance

Insurance

  • Mandatory