- 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
- 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.
- 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