The Vehicle Loan scheme will capitalize the market towards the growing Transportation, Agriculture & tourism Industry which are helpful to more Economic development activities in the country
SMIB will finance only – Cars, SUV’s, Van, Lorry, bus and Jeeps
Vehicles financed can be brand new, unregistered or registered, provided the vehicle is not older than 10 yrs from date of manufacture at the time of obtaining the loan. Exceptions being,
– Indian (Maruti/ Tata) and Chinese – Brand new only
– Korean / other Asian – Brand new and reconditioned (unregistered) only