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Road Transport Operator- Passenger/Goods transport vehicles
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1
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Purpose
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For acquisition of new and used vehicles, meeting recurring operative expenses connected with transport business.
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2
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Eligibility
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Individuals, proprietary concerns, partnership firms, companies engaged in passengers/goods transport operation inclusive of Small Road Transport Operators.
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3
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Nature of facility
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- Term loan
- Working capital
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4
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Quantum of Loan minimum/maximum.
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- Term loan: 80% of the cost of the vehicle including body building charges, Insurance and road tax.
- Working capital – need based
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5
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Margin
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20% on cost of new vehicle including body building charges, road tax and Insurance
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6
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Rate of interest
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Click here
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7
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Guarantor
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- Up to Rs.10.00 lakhs – No guarantee required
- Above Rs.10.00 lakhs - 3rd party guarantee acceptable to Bank
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Security
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Up to Rs.10.00 lakhs:
- Hypothecation of vehicles
- No collateral securities, but to be covered under Credit Guarantee Scheme.
Above Rs.10.00 lakhs ;
a) hypothecation of vehicle
b) Suitable third party guarantee and collateral security.
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9
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Processing fees/other charges
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Click here
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10
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Repayment
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Maximum of 84 months.
Cash Credit limit to be renewed annually
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11
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Application with checklist
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Click Here for Application Form
Click Here for Checklist of Documents
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