V Cab Scheme

V-CAB

1

Purpose

To purchase car/s to be engaged with ‘Ola Cabs’ for passenger transportation.

2

Eligibility

 

Individual drivers having valid driving license and aged between 18-45 years and Transport operators identified by OLA. 

3

Nature of facility

 Term loan

 

4

Quantum of Loan minimum/maximum.

 Maximum Rs.10.00 lakhs.

5

Margin

10% of on the Road price.

6

Rate of interest

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7

Guarantor

No guarantee is required. However, loans are to be covered under credit guarantee scheme(CGTMSE) 

8

Security

Hypothecation of vehicle/s to be purchased out of bank finance.

9

Processing Charges

 

No processing/documentation charges.

10

Inspection Charges

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11

Repayment

Maximum of 84 months in equated monthly instalments

12

Application with checklist

 

Click Here for Application Form

Click Here for Checklist of Documents

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