AB Fleet Finance Scheme

    Purpose :
  • Financing Trucks, Tankers, Trailers, Luxury Busses etc.
  • Nature Facility :
  • Term Loan and Working Capital.
  • Surface Transport Operators owning 10 vehicles and having 3 years experience in the line of activity.
  • For Individuals – Min Age - 18 Years and Max Age - 60 years.
  • Partnership Firms, Companies & Associations of persons should have in existence for at least 3 years.
    Loan Limit :
  • Minimum above 200 lacs - Maximum 500 lacs
  • Margin :
  • Term Loan For Chassis 20% of the cost.
  • Body Building – 30% of the cost.
  • Road Tax & Insurance – 10% of the cost.
  • Working Capital - 25% minimum.
  • Primary: Hypothecation of vehicles.
  • Collateral: varies from case to case and in some cases fully waived.
  • Insurance :
  • Comprehensive insurance of the vehicles with Bank’s clause at the borrowers cost till pendency of the loan.
    Repayment Period :
  • Term Loan: maximum 7 years.
  • Cash Credit: On demand.
  • Moratorium Period :
  • Up to 3 months