| SN | PARAMETERS | PARTICULARS |
|---|---|---|
| 1 | Purpose/ Objective | ✓ To finance any vehicle registered with RTO to be used for commercial purpose. Note-✓ Electric / CNG / LNG / Hybrid Commercial Vehicles can also be financed. ✓ Other equipment like pokelane etc. which are not registered with RTO will not be financed under the scheme |
| 2 | Eligibility | Individual, Partnership, Sole Proprietorship, Private Ltd. / Public Ltd. companies/LLPs/ Registered Transport Operators. |
| 3 | Type of facility | ✓ Term Loan: To purchase commercial vehicles ✓ OD limit: For meeting of day to day expenses |
| 4 | Loan Amount | I. For Term Loan: Max. upto ₹ 5.00 Crore For financing Used/ Second Hand Vehicles minimum purchase price of the vehicle should be ₹ 5.00 lac II. OD Limit: ₹ 50000/- per vehicle financed by our Bank subject to maximum Rs.10.00 lac per borrower. OD limit shall be allowed against the vehicles financed by our Bank only, having on-road purchase price of ₹ 5.00 lac and above. |
| 5 | Margin | a. For New Vehicles: i. 15% of “On Road Price” as per the performa invoice of the Dealer. “On road Price” shall include Vehicle Ex-showroom Price, insurance, Registration for fully built up vehicles. OR ii. 15% of the cost on purchase of chasis, cost of body building, road tax & insurance expenses. iii. 10% in case of loans upto ₹2.00 lac iv. In case of E-Rickshaws total Term Loan including replacement cost of batteries (Upto 2 batteries) shall be sanctioned in the beginning by keeping minimum margin of 10%. Installment will be fixed in such a way the total Term Loan is adjusted in 36 months. b. For Used/ Second hand Vehicles: 25% for used/ second hand Light Commercial Vehicle /MCV/HCV not older than 2 years. (Second hand E-rickshaws shall not be financed) |
| 6 | Tenure of Loan | i. Loans upto Rs. 2.00 lac: Up to 36 monthsii. Loans above Rs. 2.00 lac: Upto 60 months for new vehicles. iii. In case of used/ second hand vehicle, maximum repayment period shall be 60 months from the 1st registration date of the vehicle i.e. (60 months minus age of the vehicle)For e-Vehicles, if the loan amount is more than Rs. 5.00 lac then tenure upto 84 months may be permitted. Overdraft: One Year, subject to annual renewal |
| 7 | Collateral Security | 50% collateral Security in the shape of immovable property/ eligible liquid security from the borrower. OR Credit Guarantee Coverage under CGTMSE/CGSSI for the entire exposure as per the extent guidelines. |
| 8 | Rate of Interest | Concessional rate linked with Internal Risk Rating. |
| 9 | Service Charges | Nominal unified processing/upfront fee |