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Tag: Cars

  • New Jersey governor to set leading clean power target and follow California ban on gas-powered cars

    New Jersey governor to set leading clean power target and follow California ban on gas-powered cars

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    state of the state new jersey 78861

    Murphy plans to start New Jersey on the path pioneered by California with a requirement that all new cars sold in the state have zero emissions by 2035.

    The governor is also directing the state Board of Public Utilities to open a proceeding on “the future of the natural gas utility.” It would be similar to other states looking for an orderly way to reduce the burning of natural gas.

    “These bold targets and carefully crafted initiatives signal our unequivocal commitment to swift and concrete climate action today,” Murphy will say, according to prepared remarks of the speech. “We’ve turned our vision for a greener tomorrow into a responsible and actionable roadmap to guide us, and it’s through that pragmatic, evidence-based approach that we will ultimately arrive at our destination.”

    The governor will also:

    — Set a target to electrify 400,000 residential buildings and 20,000 commercial buildings by 2030, which generally means retrofitting them to switch from natural gas to electric heat.

    — Spend $70 million from the Regional Greenhouse Gas Initiative to help companies and local governments buy electric medium and heavy duty trucks, a category that includes school buses, semi-trucks and heavy duty loaders.

    — Move forward on the next phase of climate changed-related rules, particularly ones related to flooding known as the “resilient environments and landscapes” or REAL.

    The governor’s new 100 percent clean energy by 2035 plan is similar to a bill from Sen. Bob Smith (D-Middlesex), chair of the state Senate Environment and Energy Committee, that began circulating widely a few weeks ago. While the governor can set his own target without legislation, the administration plans to keep working with Smith on the bill.

    A clean energy law might ultimately have more staying power in a state where the governor’s office tends to go back and forth between Republicans and Democrats.

    Many of the goals that were once nearly unthinkable and are now fast approaching. But they also stretch well beyond the time that Murphy, a two-term governor, has left in office.

    Whether the announcements will be enough to revive the governor’s flagging reputation among environmentalists remains to be seen. In 2017, he campaigned on a 100 percent clean energy by 2050 goal. In the years since, environmental activists in the state have questioned his commitment and, last month, one prominent group said they no longer considered him America’s “greenest governor.”

    Just a few weeks ago, the state changed its timeline for redoing its Clean Energy Master Plan, delaying it until 2024 because of the time needed for a more robust planning process. Now, though, Murphy is moving ahead on more aggressive targets, like those outlined by Smith’s bill.

    Even though success of the 2035 goals will can’t be measured for years, the administration has compared energy policy to a moving ship. If someone doesn’t put the state on a clean energy course, it may never get there.

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    ( With inputs from : www.politico.com )

  • JK Grameen Bank Loan Scheme for Used/Second Hand cars

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    101A5467 A2A0 4004 AF97 D04D6096DCF0

    JK Grameen Bank Loan Scheme for Used/Second Hand cars Check Details Here

    PURPOSE:

    The finance under this scheme shall be available for purchase of an old car / jeep (not more than 5 years old) for personal use.

    Eligibility:

    i) Permanent employees of State/ Central Government, Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or reputed establishments.
    ii) Businessmen, Professionals and self employed individuals.
    iii) Persons engaged in agriculture and allied activities.
    iv) Net annual income of Rs.1.00 lacs and above.

    Age Criteria:

     

    Salaried ClassThe applicant should be atleast 21 years old at the time of applicant and below 58 years of age at the time of maturity of the loan.
    * For Institutions, where retirement age is is 60 years, the upper age limit shall be 60 years.
    For othersAbove 21 years at the time of application but below 65 at the time of the loan’s maturity

     

    Maximum Loan Amount:

    i) 2.5 times of the net annual income or 15 lacs, whichever is lower. If married, the spouse’s income can also be considered provided the spouse guarantees the loan. Loan amount for used vehicles shall be subject to a maximum limit of 15 lacs.
    ii) The number of vehicles to be sanctioned to a single borrower under Car Finance (Used) at any point of time should not exceed more than 2 vehicles subject to maximum prescribed limit of 15.00 lacs.



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    Margin:

    i) 25% for vehicles having age less than 3 years.
    ii) 30% for vehicles having age of 3 years and above up to 5 years.

    Repayment period:

    i) Maximum repayment period of 72 months for vehicles having age less than 3 years.
    ii) Maximum repayment period of 48 months for vehicles having age of 3 years & above to 5 years.

    Security:

    i) Primary: Hypothecation of vehicle to be purchased.
    ii) Collateral: Third Party Guarantee of two persons having sound financial net means good for the loan amount.

    Processing Charges:

    0.50% of the Loan Amount

    * Conditions Apply

    101A5467 A2A0 4004 AF97 D04D6096DCF0

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    #Grameen #Bank #Loan #Scheme #UsedSecond #Hand #cars

    ( With inputs from : kashmirpublication.in )

  • JK Bank Car loan Scheme for purchase of Used cars for private

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    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    NAME OF PRODUCT

    JKB Car loan Scheme for purchase of Used cars for private use

    PURPOSE

    To provide finance for purchase of used Cars/SUV/MUV etc. (Fuel operated as well as electric cars) for Private Use only. The car should not be more than 6 years old at the time of loan sanction.

    NATURE OF FACILITY

    Term Loan

    AGE

    Minimum age at the time of loan application: 18 years

    Maximum age at the time of loan maturity: 70 years

    Notes:

    • In case of in service Govt employees under old pension scheme, car loans with tenor exceeding residual services period can also be considered. However, the sanctioning authority may make a tentative assessment of his/her likely pension income, based on his her existing salary structure, residual service, pension rules etc. and ensure that the instalment of the proposed loan shall not be more than 50% of his/her likely monthly pension.
    • In case of joint borrowers/ Co-borrowers, the age of that borrower can be considered for fixing tenor of the loan whose contribution towards the repayment of proposed loan is at least equal to 50% of EMI.
    • The upper age limit may be relaxed upto 75 years in deserving cases, powers for which may be vested with the Zonal Credit Committees.

    MARGIN

    • For permanent employees of State and Central Government, Government Undertakings & Autonomous bodies Drawing salary through our Bank :20% of value derived/ accepted
    • For Platinum/Gold Current Account Holders & Customers having aggregate limits (Working Capital and/or Term Loan) above 25 Lakh having satisfactory dealings.:20% of value derived/ accepted
    • For All Other borrowers:25% of value derived/ accepted

    MAXIMUM LOAN AMOUNT

    • Maximum Limit per vehicle: Rs 25.00 lacs
    • Maximum Limit per borrower: Rs 50.00 lacs

      Note: Higher quantum of finance per unit/ per borrower may also be considered, however powers to sanction such loans shall vest with Zonal Credit Committees only.

    REPAYMENT PERIOD

    • The maximum tenor of the loan shall be 07 years or till the vehicle gets 12 years old, whichever is earlier, subject to residual life of the vehicle.
      The loan shall be repaid in a maximum of 84 Equated Monthly Installments.

    SECURITY

    • Primary: Hypothecation of vehicle to be purchased (Bank’s charge to be registered with concerned Transport Authority/ VAHAN Central Registry)
    • Collateral:
      • For permanent employees of J&K/Ladakh Gov’t and Central Government, Government Undertakings & Autonomous bodies maintaining salary accounts with our bank: NIL.(However, in cases where the loan tenor is in excess to residual service period, TPG of one person shall be obtained).
      • For pensioners: Guarantee of 02 persons including spouse eligible for family pension.
        (Or) Guaranteeof spouse only if he/she is a Govt employee or pensioner.
      • Private /Public Limited Company/ partnership firms:Personal guarantee of promoters/directors/partners
      • For all others: Guarantee of one person having sufficient net worth to withstand the liability and acceptable to Bank.
      • Direct Debit Mandate/NACH/ECS Mandate (whichever applicable)
        Note:
        Sanctioning Authority may waive off third party guarantee in favour of certain categories of applicant borrowers, as noted below:
      1. Platinum/Gold Current Account Holders having average balance of Rs 5.00 lacs or above
      2. Customers availing aggregate limits (Working Capital and/or Term Loan) above 50 Lakh with satisfactory track record.
      3. Borrowers with credit score of 750 in case of CIBIL or 650 in case of CRIF.
      4. High net worth individuals maintaining term deposits in excess to Rs 50.00 lacs with the bank in their own name.

    PREPAYMENT PENALTY

    4% on the outstanding in respect of Fixed interest rate loan shifted to other banks + Applicable GST.

    Nil for all other loans prepaid

    MINIMUM INCOME STIPULATION

    For all types of individual borrowers: Gross Annual Income of Rs 2.00 lacs
    For proprietorship/partnership firms and companies: Cash Profit (PAT+ Average Depreciation) of Rs 2.00 lacs for the previous financial year.

    LOAN PROCESSING CHARGES

    LPC: 1.0% of the loan amount plus applicable GST Minimum of ₹2000/- + GST
    Maximum: ₹15000/- + GST
    (Nil for employees mentioned at para Rate of interest)

    RATE OF INTEREST (SUBJECT TO CHANGE)

    Tenor upto 04 years: RLLR+3.75% (Fixed)

    Tenor above 04 years:RLLR+4.75% (Fixed)

    The interest rate concession applicable to employees of various Govt Departments/ institutions, as noted below, shall continue till validity of such MoUs unless otherwise notified:

    • Employees of SMVDSB 25 bps
    • Employees of Police Departments 10 bps
    • Employees of University of Kashmir 10 bps
    • Employees of NIT Srinagar 10 bps
    • Employees of Central University of Jammu 10 bps
    • All other employees of J&K/ Ladakh Gov’t. 25 bps

    Interest rate concessions of 50 bps (including existing concession as per MOUs specified above or concession to women borrowers, if any) to individual borrowers having credit score of above 750 in case of CIBIL or above 650 in case of CRIF. Similar concession shall be extended to non-individual borrowers with internal rating grade of 1 or 2.

    Interest rate concession of 25 bps (including existing concession as per MOUs specified above or concession to women borrowers, if any) to individual borrowers having credit score of 701-750 in case of CIBIL or 610-650 in case of CRIF. Similar concession shall be extended to non-individual borrowers with internal rating grade of 3 or 4.

    ELGIBILITY

    1. Permanent Employees of State / Central Government, Semi-Government Undertakings, Institutions and Autonomous Bodies.
    2. Regular Employees of Private Limited Companies / Private Organizations and other Reputed Private Institutions/ Establishments who have a service of at least 2 years with the current employer
    3. Contractual Employees of Central/State Government, Semi-Government Undertakings and Autonomous Bodies (provided there are no instances of termination of employment of such employees previously).
    4. Professionals or self-employed individuals with at least 2 years’ experience in business/profession/activity. (This category shall include proprietors, partners and promoters of companies where the loan is sanctioned in their personal capacity. Gross Income in this case shall mean income as shown in proof of income obtained)
    5. Persons engaged in agricultural and allied activities.
    6. Pensioners of State/Central/UT Gov’t, PSU’s (Public Sector Undertakings), autonomous bodies and Institutions. (Family pensioners shall not be eligible).
    7. Employees appointed under SRO 202 (to be treated at par with Permanent Employees of State/Central Government) subject to the condition salary for at least 6 months has been credited in the savings account of the applicant.
    8. Partnership firms and companies which have been in existence for a minimum of 02 years.
    9. HUF can also avail car loan facility. HUF can apply for the loan through Karta and the documents, as prescribed, shall also be executed by the Karta on behalf of the HUF. However, it shall be ensured that a joint application is obtained from all the coparceners for the loan whereby they will also confirm that the loan facility is used for the benefit of the HUF.
    10. Applicants who do not fall in any of the above categories may be also be financed subject to the condition that the applicant has a stable/perpetual source of income and provides proof to the satisfaction of the sanctioning authority.

    VALUATION OF THE VEHICLE

    Value of the vehicle shall be the lower of the following (subject to satisfaction of the BU Head and Advances In-charge):

    • Ex-showroom price of the vehicle as per original sale invoice less depreciation, which shall be as follows:
    Age of the vehicle% Of Depreciation for fixing value.
    Upto 06 months.5%
    06 Months to less than 01 year10%
    01 year to less than 02 years.20%
    0 years to less than 03 years.30%
    03 years to less than 04 years.40%
    04 years to less than 05 years.50%.
    05 years to less than 06 years.60%.
    • Insured Declared Value (IDV) of the vehicle as per latest insurance policy.
    • Consideration Amount as per agreement to sell between seller and buyer or as per invoice from registered used car dealer.
    • Note: In case original sale invoice is not available, sanctioning authority may consider minimum of value as depicted in documents mentioned at Serial II & III above.

    8FE7849C B144 4498 8FF8 2D1476C6FAB6

    The post JK Bank Car loan Scheme for purchase of Used cars for private use appeared first on Kashmir Publication.

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    #Bank #Car #loan #Scheme #purchase #cars #private

    ( With inputs from : kashmirpublication.in )

  • In from the coal: Australia sheds climate pariah status to make up with Europe

    In from the coal: Australia sheds climate pariah status to make up with Europe

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    papua new guinea australia treaty 83304

    Europe loves the Aussies again. 

    Australia was, until recently, an international pariah on climate change and a punchline in Brussels. But a new government in Canberra coupled with Europe’s energy and economic woes mean a better relationship is now emerging — one that could fuel Europe’s transition to a clean economy, while enriching Australia immensely.

    “Europe is energy hungry and capital rich, Australia’s energy rich and capital hungry, and that means that there’s a lot that we can do together,” said Australia’s Minister for Climate Change and Energy Chris Bowen.

    A little over a year ago, relations between Australia and the EU were in a parlous state. The government of Prime Minister Scott Morrison had reneged on a nuclear submarine contract — a decision the current government stands by — incensing the French and by extension the EU. Equally as frustrating for many Europeans was Australia’s climate policy, which was viewed as outstandingly meager even in a lackluster global field.

    The election of Labor Prime Minister Anthony Albanese — whose father was Italian — last May brought a change in tone, as well as a new climate target and a trickle of policies designed to cut greenhouse gas pollution that heats up the planet.

    Those moves were “the entry ticket” to dealings with Europe, Bowen told POLITICO in Brussels, the second-last stop on a European tour. “Australia’s change of climate positioning, climate policy, has changed our position in the world.”

    That’s been most notable in progress on talks on a free trade agreement with the EU. Landing that deal would be a “big step forward,” said Bowen. Particularly because when it comes to clean energy, Australia wants to sell and Europe wants to buy.

    Using the vast sunny desert in its interior, Australia could be a “renewable energy superpower,” Bowen argued. Solar energy can be tapped to make green hydrogen and shipped to Europe, he said.

    European governments are listening closely to the pitch. Bowen was in Rotterdam on Monday, inspecting the potential to use the Netherlands port as an entry for antipodean hydrogen. He signed a provisional deal with the Dutch government to that end. Last week, Bowen announced a series of joint investments with the German government in Australian hydrogen research projects worth €72 million.

    It’s not just sun, Australia has tantalum and tungsten and a host of minerals Europe needs for building clean tech, but that it currently imports. In many cases those minerals are refined or otherwise processed in China, a dependency that Brussels is keen to rapidly unwind — not least with its Critical Raw Materials Act, expected in March.

    According to a 2022 government report, Australia holds the second-largest global reserves of cobalt and lithium, from which batteries are made, and is No. 1 in zirconium, which is used to line nuclear reactors.

    Asked whether Australia can ease Europe’s dependence on China, Bowen said: “We want to be a very strong factor in the supply chains. We’re a trusted, reliable trading partner. We have strong ethical supply chains. We have strong environmental standards.”

    But Australia has its own entanglements.

    Certain Australian minerals, notably lithium, are largely refined and manufactured in China. Bowen said he was keen on bringing at least some of that resource-intensive, polluting work back to Australia.

    While its climate targets are now broadly in line with other rich nations, the rehabilitation of Australia’s climate image jars with its role as one of the biggest fossil fuel sellers on the planet.

    Australia’s coal exports, when burned in overseas power plants, generate huge amounts of planet-warming pollution — almost double the amount produced annually by Australians within their borders. Australia is also the third-largest exporter of natural gas, including an increasing flow to the EU. At home, the government is facing calls from the Greens party and centrist climate independents to reject plans for more than 100 coal and gas developments around the country.

    But how many of Bowen’s counterparts raised the issue of Australia’s emissions during his travels around Europe? “Nobody,” he said. “We are here to help.”

    Antonia Zimmermann contributed reporting.



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    #coal #Australia #sheds #climate #pariah #status #Europe
    ( With inputs from : www.politico.eu )

  • Man shot; cars damaged in clash after inter-faith marriage in Haryana

    Man shot; cars damaged in clash after inter-faith marriage in Haryana

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    Man shot; cars damaged in clash after inter-faith marriage in Haryana

    Gurugram: A man was shot at and vehicles were damaged in a clash between two groups allegedly after an inter-faith marriage in Haryana’s Pataudi area, police said on Tuesday.

    On January 30, a Muslim man from Pataudi’s Baba Shah locality lodged a police complaint alleging that his 22-year-old daughter had gone missing. It was later found that she had married one Rakesh, they said.

    After the wedding, Rakesh had started receiving threat calls. He informed his relatives in Rewari about the calls and they reached out to Bajrang Dal members for help. A group of men led by the outfit’s leader reached the man’s house where the clash erupted, they said.

    An FIR was registered against the Muslim party under sections 148 (riots), 149 (unlawful assembly), 323 (causing hurt), 506 (criminal intimidation), 380 (theft) and 427 (causing damage) of the IPC.

    Mubin Khan, a resident of the same locality, said his son Mohin, who was at a grocery shop, was shot at during firing between the two groups. His son is being treated in a private hospital in Gurugram and is still unconscious, police said.

    An FIR was registered under section 307 (murder attempt) at the Pataudi police station.

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    #Man #shot #cars #damaged #clash #interfaith #marriage #Haryana

    ( With inputs from www.siasat.com )

  • Nora Fatehi’s net worth, home, expensive cars, salary & more

    Nora Fatehi’s net worth, home, expensive cars, salary & more

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    Mumbai: Moroccan actress and model Nora Fatehi who made her foray into Bollywood is celebrating her 31st birthday on February 6. The dance queen made her Bollywood debut with the 2014 film ‘Roar: Tigers of the Sundarban’. She also appeared in Telugu and Malayalam films. She is known for her dancing skills and fashion sense not only in Canada and India but across the world. She recently gave a performance at the 2022 FIFA world cup’s closing ceremony.

    Nora Fatehi, who carved a niche for herself in the entertainment industry, remained in the headlines for the wrong reasons after she was grilled by the Enforcement Directorate. She has been named in the Rs 200 crore extortion case involving Sukesh Chandrasekhar. It is also said that Nora took money from Sukeh to build a home for her family in Canada.

    Whatever, but all we can say is that she has always succeeded in leaving her fans in awe because of her killer dance moves. On her birthday, we will give you an overview of her uber-luxurious life. Her net worth is estimated to be around Rs 40cr.

    Fees for films and songs

    Do you wonder how Nora Fatehi is managing to live such a luxurious lifestyle? She is earning a whopping amount from films and events. She has worked in various big-budget films to add more to her wealth. She charges around Rs 1 crore per movie while Rs 50 lakh for an item song.

    Nora’s 15 to 20 per cent income comes from brand endorsements too. She worked with Nykaa, Parachute, Everyuth, Honor mobile, Noise etc. Reports claim that she is earning around 30 to 40 lakh per month from several brands.

    Nora Fatehi’s Mumbai Home Worth Rs 10 cr

    Nora Fatehi owns a luxurious house in Worli and it is reported that the cost of the luxe pad is approx Rs 10 crore.It is designed by American architect Peter Marino.

    Noras Home

    Nora Fatehi has shelled out several crores to decorate the lavish abode. Reportedly, she also owns a luxurious home in Canada.

    Vanity Van

    As Nora Fatehi has become a dancing sensation in India, she has purchased a stunning vanity van with numerous features. It is reported that her vanity van costs around Rs 5 crore.

    Nora Fatehi’s Expensive Car Collection

    The Moroccan beauty owns various luxurious cars which include —

    • BMW 5 Series worth Rs 64.49 lakh
    • Mercedes Benz GLA 200D worth Rs 32.33 lakh
    • Honda City worth Rs 12 lakh
    • Volkswagen Polo worth Rs 10.25 lakh

    It seems that the actress loves cars and she has brought the almost top model of every car and the interiors of her cars are more personalised.

    Expensive handbags

    You might be surprised that the actress owns handbags which cost around 5 to 7 lakhs. It is said that Nora loves stylish and expensive handbags and her collection is proof of it.

    She owns Hermes Birkin Handbag worth 7 Lakh and Rs 5.1 lakh Chanel Quilted Double-Chained Handbag among other expensive bags.

    On the professional front, Nora Fatehi was last seen in the song ‘Manike’ from the movie Thanks God starring Sidharth Malhotra.

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    #Nora #Fatehis #net #worth #home #expensive #cars #salary

    ( With inputs from www.siasat.com )

  • LuvLap 3 in 1 Baby Bed, Sleeping Bag & Carry Nest, Cotton Baby Bedding for New Born & Infant, Portable Bassinet, Unisex Baby Sleeping Bed, 0M+ (Cars print, Multicolour)

    LuvLap 3 in 1 Baby Bed, Sleeping Bag & Carry Nest, Cotton Baby Bedding for New Born & Infant, Portable Bassinet, Unisex Baby Sleeping Bed, 0M+ (Cars print, Multicolour)

    41uVaQ+jrkL51bGLYXyg L41Z05jaD7tL51BkywoGA3L
    Price: [price_with_discount]
    (as of [price_update_date] – Details)

    ISRHEWs
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    LuvLap Baby Sleeping Bag, Cars Print
    Portable & multi functional baby sleeping bed: Its light-weight and compact design makes it very easy to convert this into a travel companion
    Made of hypoallergenic cotton fibre this bed is perfect for the baby skin & turns to be the preferred lounger for the baby
    Grows with your baby with the help of the zipper. In winter and AC environment the zipper can be closed and the bedding acts as a hooded quilt, whereas in case of warm weather it can be used as a mattress
    This baby bedding set lets you co-sleep with your baby, it creates a barrier between baby and parents giving the baby their own cozy space

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    #LuvLap #Baby #Bed #Sleeping #Bag #Carry #Nest #Cotton #Baby #Bedding #Born #Infant #Portable #Bassinet #Unisex #Baby #Sleeping #Bed #Cars #print #Multicolour

  • Eight racing cars land in Hyderabad for Formula E Championship

    Eight racing cars land in Hyderabad for Formula E Championship

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    Hyderabad: Eight racing cars and their components weighing around 90 tonnes landed in Hyderabad on Thursday for the prestigious Formula E Championship scheduled to be held on February 11.

    Hyderabad is all set to host the first-ever E-Prix in the country.

    The GMR Hyderabad Air Cargo (GHAC) team is playing a pivotal role in making this landmark event possible, officials said.

    The cargo division of Hyderabad Airport handled around 90 tonnes of race car components and eight spectacular racing cars.

    The first consignment of auto components arrived at the cargo terminal by a chartered flight, Boeing 747-400 from Riyadh.

    The cargo consisting of 83 boxes of auto components was off-loaded from the aircraft parked at the dedicated parking slots.

    The shipment was unloaded using specially designed cargo handling equipment and moved to an exclusive handling area in the GHAC terminal.

    A dedicated green channel was established from the apron to the landside for quick and hassle-free cargo transfer.

    Special regulatory permissions for an immediate onsite custom clearance ensured seamless movement of the shipment across various touch points.

    A multi-stakeholder crack team has been formed to assist the E-formula team and ensure efficient handling and movement of the cargo throughout the entire process chain of the shipment.

    The first global motorsport to be certified with net zero carbon emission, the Formula-E World Championship will see 11 teams race against each other and bring in the excitement with their all-electric amazing moto cars never seen before in the city.

    “Hyderabad Airport is proud to play an integral part in providing an end-to-end seamless air cargo movement for the first ever Formula E Championship in the country. As a premier cargo hub in southern India, Hyderabad is equipped to handle the unbroken shipment of temperature-sensitive goods, heavy machinery, agro, marine products, livestock and various other goods that are safely and securely transported across national and international market,” said Pradeep Panicker, CEO, GMR Hyderabad International Airport Limited (GHIAL).

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    #racing #cars #land #Hyderabad #Formula #Championship

    ( With inputs from www.siasat.com )

  • JK Bank Loan Scheme For The Purchase of New Cars

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    To provide finance for purchase of new cars/vans/jeep/SUV/MUV, fuel operated as well as electric cars, for Private Use only at:

    “Ex-Showroom” Prices

    OR

    “On Road Prices” wherever opted by Borrower(s) shall mean Ex-Showroom Prices plus:

    • One Time Registration Charges
    • First Insurance Premium
    • Cost of Accessories (should be limited to 10% of Ex-Showroom Price).

     

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    #Bank #Loan #Scheme #Purchase #Cars

    ( With inputs from : kashmirpublication.in )

  • J$K Grameen Bank Loan Scheme for Used/Second Hand cars

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    Rubique Carloan 3 653x435 1


    PURPOSE:

    The finance under this scheme shall be available for purchase of an old car / jeep (not more than 5 years old) for personal use.

    Eligibility:

    i) Permanent employees of State/ Central Government, Semi-Government Undertakings, Autonomous bodies, Public Sector Undertakings, Private Companies or reputed establishments.
    ii) Businessmen, Professionals and self employed individuals.
    iii) Persons engaged in agriculture and allied activities.
    iv) Net annual income of Rs.1.00 lacs and above.

    Age Criteria:

     

    Salaried ClassThe applicant should be atleast 21 years old at the time of applicant and below 58 years of age at the time of maturity of the loan.
    * For Institutions, where retirement age is is 60 years, the upper age limit shall be 60 years.
    For othersAbove 21 years at the time of application but below 65 at the time of the loan’s maturity

     

    Maximum Loan Amount:

    i) 2.5 times of the net annual income or 15 lacs, whichever is lower. If married, the spouse’s income can also be considered provided the spouse guarantees the loan. Loan amount for used vehicles shall be subject to a maximum limit of 15 lacs.
    ii) The number of vehicles to be sanctioned to a single borrower under Car Finance (Used) at any point of time should not exceed more than 2 vehicles subject to maximum prescribed limit of 15.00 lacs.



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    Margin:

    i) 25% for vehicles having age less than 3 years.
    ii) 30% for vehicles having age of 3 years and above up to 5 years.

    Repayment period:

    i) Maximum repayment period of 72 months for vehicles having age less than 3 years.
    ii) Maximum repayment period of 48 months for vehicles having age of 3 years & above to 5 years.

    Security:

    i) Primary: Hypothecation of vehicle to be purchased.
    ii) Collateral: Third Party Guarantee of two persons having sound financial net means good for the loan amount.

    Processing Charges:

    0.50% of the Loan Amount

    * Conditions Apply

    Rubique Carloan 3 653x435 1

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    #Grameen #Bank #Loan #Scheme #UsedSecond #Hand #cars

    ( With inputs from : kashmirpublication.in )