The Hindu Business Line : KTDFC cuts interest rates

THIRUVANANTHAPURAM: Kerala Transport Development Finance Corporation (KTDFC) has reduced interest rates for vehicle finance effective from December 1.

As per the revised rates, the interest rate for two-wheeler finance is now 14 per cent from 15 per cent earlier. The new interest rate for financing three-wheelers, cars and vehicles for commercial purposes will be 13 per cent.

The repayment period will range from 24 to 60 months. Finance will be available up to 95 per cent of the purchase price. Finance will be made available to employed and unemployed applicants on the basis of a guarantee provided by a State Government employee.

Besides, Government institutions, co-operative bodies, educational institutions and other companies will be eligible to receive finance for the full purchase price of the vehicle. Finance is available for second-hand vehicles too, an official spokesman said.

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