ARF-Fin. TWO WHEELERS
The object of the scheme is to provide credit for purchase of two wheelers to farmers under Automatic Refinance Facility(FS).
Items of investment
Cost of vehicle, taxes and insurance payable on purchase of vehicle
A margin of 25% of the cost of the vehicle will have to be contributed by the borrower
Repayment of loan
Not exceeding 5 years subject to financial viability and bankability
As in loan rules, fixed by the apex bank under relevant scheme; in accordance with the guidelines issued by RBI/NABARD/RCS.
Rate of Interest
Interest rate will be fixed by KSCARD Bank from time to time in accordance with the guide lines issued by RCS/NABARD/RBI.
The monthly lending progress/disbursement statement should be furnished to the apex bank in the prescribed format, by PCARDBs.