||All individual transport operators/firms/companies/association of persons engaged in transportation business.
||Individuals – 21-65 years
Partnership Firms, Companies & Associations of persons should have in existence for at least 2 years
|Quantum of Finance
||Maximum 200 lacs
||Term Loan and Over Draft.
For loans up to 5 lacs – 10% of the Project Cost
For loans above 5 lacs – 20% of the Project Cost.
|*Rate of Interest
||Rate of interest depends on the profile of the proposed Borrower and varies between Base Rate to BR+5.00% p.a. with monthly rests as per risk rating of account.(For details, click on “Rate of Interest” link at Home Page)
||0.41% of Loan amt. with a minimum of Rs. 2029/-
||Up to 3 months
||Term Loan: 5 years including moratorium period. (7 years in case of heavy commercial vehicles)
Over Draft: On demand.
||Primary : Hypothecation of vehicles.
Collateral : Suitable collateral security.
(Option for CGTMSE cover upto loan limit of Rs 100 lac for MSE borrowers)
||Comprehensive insurance of the vehicles with Bank’s clause at the borrowers cost till pendency of the loan.
|*Subject to change.