|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|
|Detail Link||View Link|