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IND-SME E-VAAHAN

IND-SME E-VAAHAN

Particulars Guidelines
Target Group Individual / Proprietorship concern / Partnership Firm / Private Limited Company / Public Limited Company / Limited Liability Partnership Firm / Trust
Purpose
  • For purchase of 2 / 3 / 4 wheeler electric vehicles (New vehicle) by MSMEs for the business purpose.
  • 2 wheeler – for delivering goods to their clients at door step etc.
  • 3 wheelers – AutoRickshaw passenger vehicles, commercial vehicle for transporting material.
  • 4 wheelers – passenger vehicles for official use by MSMEs / commercial vehicle for transporting material.
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.

 

Collateral Security:

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

or

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 )