Transport Operator Finance

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Transport Operator Finance

Objective :

  1. Financial assistance for purchasing new vehicle.
  2. Meeting expenses related to repairs
  3. Purchase of second hand vehicle
  4. Loans for purchase of vehicles in replacement for the existing one.
Features
Eligibility : Transport Operators [No Restriction on number of vehicles].
Transport Operators who purchase more than one vehicle and the aggregate credit requirement is more than `1.00 crore may be sanctioned a consolidated limit against which, drawals will be allowed with in a period six months as per schedule agreed to, at the time of sanction.
Quantum of Loan : Need based finance will be made subject to maximum of `3.00 crores.
Repayment : Loan to be repaid in 60 Months including moratorium period of 6 months.
Margin : For Existing customers 20% and for new customers 25%
Security : Primary : Hypothecation of assets acquired by Bank Finance.

Collateral : For loan amount upto `10.00 lacs – Nil – For loan amount Above `10.00 lacs 50%/40% [New/Existing Customers] of Loan amount
Interest Rate : CLICK HERE to view interest rates
Up-Front Fee
[Term Loans] 		  CLICK HERE to view Processing Fee
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