Commercial Vehicle Loan - Business

Features

• Target Group:
  • Transport Operators, Tour Operators, Travel Agencies, Business Enterprises, Contractors, Captive Users, Warehouse Owners, Logistics provider, Hospitality Sector, First Time Buyers with experience in related activities.
• Facilities Available : Term Loan
• Quantum of Loan :
  • Minimum: Rs.10.00 lakhs.
  • Maximum: Rs.50.00 Lakhs.
• Pricing : Competitive pricing linked to EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%)
• Borrower's Margin / Contribution : 15% on on-road price
• Repayment Period :
  • For Commercial Vehicle: Maximum 84 months. Moratorium: Up to 6 months.
  • For Electric Vehicle : Maximum 48 months. Moratorium: Up to 6 months. Repayment on EMI basis. Negotiated repayment can be done depending on cash accruals.
• Processing Fee/ Upfront Fee : 0.50% of the loan amount + GST.
• Other Charges: 5% p.a. over and above the existing rate of interest on overdue amount for the period of default
• Collateral Security :

  Loans will be covered under CGTMSE.
  Guarantee fee to be borne by the borrower.

• Special Feature :Eligibility Criteria:
  • Minimum 2 years of experience in transport industry/ Hospitality Industry and other related business enterprise/ activities.
  • Satisfactory track record with existing banks/FIs.
  • Income Tax Assessee (personal & Business).
  • MSMEs should be registered in UDYAM portal and should have Udyam Registration Certificate.