|Target Group||Individual / Proprietorship concern / Partnership Firm / Private Limited Company / Public Limited Company / Limited Liability Partnership Firm / Trust|
|Types of Facility||Fund Based: Term Loan|
|Loan Amount||Maximum Loan Amount: No ceiling
More than one vehicle per borrower can also be considered.
|Margin (Promoter’s contribution)||15% on “On Road” cost of the vehicle
|Security||Primary Security: Vehicle/s purchased out of the Loan.
Micro & Small Enterprises CGTMSE coverage (if the limit is for Manufacturing / services unit upto Rs. 2 crore & if the limit is for Trade sector upto Rs. 1 crore
100% collateral security in the form of immovable properties / liquid securities for the loan portion beyond CGTMSE coverage is to be obtained.
Loans to Medium Enterprises upto Rs. 25 lakh: NIL
Loans to Medium Enterprises above Rs. 25 lakh : 100% collateral security in the form of immovable properties / liquid securities for the loan portion above Rs. 25.00 lakhs.
Personal Guarantee :
Personal Guarantee of Partners / Directors as per extant guidelines
|Repayment terms||Loan for 2/3 Wheeler: Maximum 48 months (Door to Door tenor)
Loan for 4 Wheeler : Maximum 60 months (Door to Door tenor) i.e. total tenor including holiday period
|Processing & other charges||Processing Charges: 0.59% of loan amount subject to a maximum of Rs. 5900/-
All other charges applicable.
( Last modified on Apr 01, 2020 at 05:04:08 PM )