|Hire Purchase Loan|
||Financing on vehicle or equipment of the business.
||Maximum 80% of the value of the vehicle/equipment.
||Non-revolving & non-renewable.
||Full amount after taking charge on vehicle or equipment and obtaining insurance policy, for releasing payment to the vendor.
||On equated installment basis (EMI/EQI).
||On quarterly basis or on installment payment date.
||Charge on the financed vehicle/equipment by taking titleship on bank’s name.
||Maximum 8 years based on estimated life of the vehicle/equipment