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Canara Green Wheels (Electric Vehicles)
PURPOSE
For Purchase of New Electrical Four Wheeler for personal /non-commercial purpose.
ELIGIBILITY
All Individual borrowers/professionals/reputed firms/companies & agriculturists.
Salaried/Non-Salaried class should have a minimum income of Rs.3.00 lakhs p.a. as per the latest income.
In case of Agriculturist, Net Annual Income of applicant and/or co-applicant together should be a minimum of Rs.4.00 lakhs.
MARGIN
Up to Rs.25.00 lakh - 15%
Above Rs.25.00 lakh - 25%
RATE OF INTEREST
REPAYMENT
In convenient Equated Monthly Instalments upto 84 months.
PROCESSING CHARGES
Bank is celebrating Retail Loan Festival and waived the processing charges from 01.09.2022 to 31.03.2023
0.25% on the loan amount with a minimum of Rs.1000/- and maximum of Rs.5000/-.
SECURITY
Hypothecation of the vehicle to be purchased. Suitable guarantor good for the amount may be insisted upon based on merits on case-to-case basis.
OTHER GUIDELINES
- All other terms & conditions as applicable to Canara Vehicle (General) & Agriculturist.