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Canara Bank


Bank Canara Bank
Description To finance new vehicles ( Small, Light, Medium, Heavy Commercial Vehicles, Passenger vehicle) E.g Trucks/Tankers/Trailers /Tippers/Buses/Luxury Buses and passenger vehicles etc.
Eligibility Ø Individuals /Firms /Companies /Trusts/ Institutions /Associations

Ø Existing transport operators (Goods or passenger) having experience of 3 years or more in the line of transport operator business.

Ø Requirement of minimum 5 new vehicles or minimum loan amount of Rs.25.00 lakhs.

Ø Transport operators holding national/state route permit and other necessary permits/license/approvals

Ø Income tax assessee ( Personal & Business)

Rate of Interest & Repayment Rate of interest as per prevailing guidelines of the Bank linked to RLLR of the Bank, subject to changes from time to time

Repayment: Maximum 60 months (Inclusive of Holiday Period)

Collateral ·        1. Up to Rs.1.00 crore : Min 25% collateral security by way of land and building or CGTMSE cover.

·         2. Above Rs.1.00 crore : Min 25% collateral security by way of land and building.

Composite /loan Limit Minimum Rs.25.00 lakhs Maximum Rs.5.00 Crores
Margin Margins are linked to the scores
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