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Norm
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Description
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Product
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Financing Facility to Farmers and Agriculturists for purchase of Four Wheelers including rural transport vehicles, station wagons, delivery vehicles, jeeps, utility vehicles used for multiple purposes in overall farm management activities.
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Facility Type
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Term Loan
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Borrower Profiles
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All Farmers and Agriculturists owning and cultivating agricultural lands or involved in Agriculture-Allied Activities
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Purpose / End-Use
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Vehicle to be utilized for farm activities including :
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Tenure
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Upto 84 months
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Co-Borrower / Guarantor
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Optional or case to case basis
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Minimum & Maximum Age
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21 years at the time of beginning of contract and 65 years at the end of contract respectively
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Primary Security / Collateral
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Hypothecation on the asset funded
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Extent of Loan
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Need Based, Upto INR 10 Lakhs.
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