This Maharashtra Government Scheme can fulfill your dream of owning a vehicle

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The Maharashtra Government has introduced the Annasaheb Patil Vehicle Loan Scheme, a remarkable initiative designed to assist individuals and businesses in purchasing new or used vehicles. Administered by the Annasaheb Patil Economically Backward Classes Development Corporation (APMCBDC), this government-backed loan program aims to provide financial support to those who meet the eligibility criteria.

Eligibility

To be considered for the Annasaheb Patil Vehicle Loan Scheme, applicants must fulfill the following criteria:

  • Residency in Maharashtra
  • Membership in an economically backward class (EBC)
  • Minimum age of 18 years
  • Possession of a valid driving license
  • A good credit history

Loan Amount

Under this scheme, eligible applicants can seek a loan amount of up to ₹50 lakh. The actual loan amount will be determined based on the applicant’s income, employment status, and the type of vehicle they wish to purchase.

Interest Rate

The Annasaheb Patil Vehicle Loan Scheme offers a fixed interest rate of 12% per annum throughout the loan term.

Loan Term

Applicants can enjoy a flexible loan term of up to 7 years, providing ample time for repayment.

Documents Required

To apply for the Annasaheb Patil Vehicle Loan Scheme, interested individuals must submit the following documents:

  • Completed application form
  • Proof of identity
  • Proof of residence
  • Proof of income
  • Proof of employment
  • Valid driving license
  • Vehicle registration certificate

Application Process

To apply for the Annasaheb Patil Vehicle Loan Scheme, simply submit the required documents to the APMCBDC office in your district. The APMCBDC will diligently review your application and strive to provide a decision within 30 days.

Benefits

By availing yourself of the Annasaheb Patil Vehicle Loan Scheme, you can enjoy the following benefits:

  • Access to affordable financing options
  • Opportunity to enhance your livelihood
  • Improved mobility and convenience

Don’t let the dream of vehicle ownership remain a dream, take advantage of this scheme offered by the Maharashtra Government and turn your aspirations into reality!


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