With rapidly shifting lifestyles of people in this modern era, there is a radical change in the demands and requirements of the people too. We live in a world today where the convenience of having our own vehicle has become a necessity of day-to-day life. Most of us don't want to travel by public transport; we want our vehicle so we can move as per our time and need without depending on anybody else or any public transportation. Two-wheelers are more popular for obvious reasons such as affordability, convenience, and easy management. Dhanalakshmi Bank two-wheeler loans by the name Kissan Vahana are specially designed for agriculturalists with some substantial perks for their allied farming activities. Personal mobility financed through this inexpensive means will proliferate productivity, decrease wastage of unpreserved harvest by reducing the time required to trade them, and boost revenues for agriculturists.
i. The objective of the loan:
To provide financial assistance to farmers and others who are involved in the agricultural field activities to own their two-wheeler or bike for their personal reasons. The vehicle should not be used for commercial use.
ii. Loan Amount:
Kissan Vahana allows a loan sum between Rs. 20,000 and Rs. 40,000 based on your eligibility.
iii. Security or Collateral:
1. Hypothecation of the two-wheelers purchased by the borrower.
2. Submit the co-obligation of another person (either your spouse or business partner) with yearly income not lower than the loan amount sanctioned.
3. Recent land tax receipts need to be submitted.
1. The applicant of the loan should have a minimum of one acre of agricultural land.
2. If not a property, the borrower should have a dairy unit with minimum 10 cows or buffaloes.
3. The overall income from agriculture and other sources of the whole family should be more than Rs. 50,000, depending if the spouse or another family member is a permanent salaried employee of a registered firm or organization or is in the public sector service and has agreed to become a co-borrower.
1. Demand Promissory Note (DPN)
2. DPN distribution letter
3. Two Wheeler Loan Term contract (with hypothecation clause)
4. Hypothecation Agreement for Farming Advances
5. Guarantee Agreement for Farming Advances
6. Photocopy of any of your ID Proof such as Driving License, Voters ID,
7. Aadhaar Card or Passport.
8. Photocopy of your residential address proof such as an address bearing
9. Identity Card, Rental/ Lease Agreement or Ration Card.