Transport Operator Finance
- Financial assistance for purchasing new vehicle.
- Meeting expenses related to repairs
- Purchase of second hand vehicle
- Loans for purchase of vehicles in replacement for the existing one.
|Eligibility||:||Transport Operators [No Restriction on number of vehicles].
Transport Operators who purchase more than one vehicle and the aggregate credit requirement is more than `1.00 crore may be sanctioned a consolidated limit against which, drawals will be allowed with in a period six months as per schedule agreed to, at the time of sanction.
|Quantum of Loan||:||Need based finance will be made subject to maximum of `3.00 crores.|
|Repayment||:||Loan to be repaid in 60 Months including moratorium period of 6 months.|
|Margin||:||For Existing customers 20% and for new customers 25%|
|Security||:||Primary : Hypothecation of assets acquired by Bank Finance.
Collateral : For loan amount upto `10.00 lacs – Nil – For loan amount Above `10.00 lacs 50%/40% [New/Existing Customers] of Loan amount
|Interest Rate||:||CLICK HERE to view interest rates|
|CLICK HERE to view Processing Fee|