- For acquisition of vehicles, meeting recurring operative expenses connected with transport business and also for short term emergent financial needs.
- Individuals, proprietary concerns, partnership firms, companies engaged in passengers/goods transport operation inclusive of Small Road Transport Operators.
- SRTOs – operating/ not owning more than 10 vehicles.
How much you are entitled to?
- Maximum of Rs. 300.00 lakhs.
What is your contribution?
- 20 % of the cost/invoice of vehicle including body building.
- Hypothecation of vehicle/s acquired out of bank finance & collaterally to secured by mortgage of
property (based on quantum of loan).
- Suitable guarantor with good net worth.
- Term loan – Maximum of 84 months.
- Working capital – one year (can be renewed on a yearly basis).
- Repayment Holiday – Maximum of 6 months within the maximum repayment period.
Rate of interest
- No Pre-payment/Pre-closure Charges shall be levied.
- For loan amount upto Rs.5.00 lakhs-Nil
- For loan amount above Rs.5.00 lakhs - 0.75% of loan amount.
For more details contact our nearest branch or call to our toll free no 1800 425 5885