Road Transport Operator

Road Transport Operator- Passenger/Goods transport vehicles

1

Purpose

For acquisition of new and used vehicles, meeting recurring operative expenses connected with transport business.

2

Eligibility

 

Individuals, proprietary concerns, partnership firms, companies engaged in passengers/goods transport operation inclusive of Small Road Transport Operators.

3

Nature of facility

 

  •   Term loan
  •   Working capital

4

Quantum of Loan minimum/maximum.

  • Term loan: 80% of the cost of the vehicle including body building charges, Insurance and road tax.
  • Working capital – need based

5

Margin

       20% on cost of new vehicle including body building charges, road tax and Insurance

6

Rate of interest

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7

Guarantor

  • Up to Rs.10.00 lakhs – No guarantee required
  • Above Rs.10.00 lakhs -  3rd party guarantee acceptable to Bank
8

Security

Up to Rs.10.00 lakhs:

  •         Hypothecation of vehicles
  •         No collateral securities, but to be covered under Credit Guarantee Scheme.

 Above Rs.10.00 lakhs ;

a) hypothecation of vehicle

b) Suitable third party guarantee and collateral security.

9

Processing fees/other charges

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10

Repayment

Maximum of 84 months.

Cash Credit limit to be renewed annually

11

Application with checklist

 

Click Here for Application Form

Click Here for Checklist of Documents

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