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V-CAB
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1
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Purpose
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To purchase car/s to be engaged with ‘Ola Cabs’ for passenger transportation.
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2
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Eligibility
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Individual drivers having valid driving license and aged between 18-45 years and Transport operators identified by OLA.
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3
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Nature of facility
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Term loan
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4
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Quantum of Loan minimum/maximum.
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Maximum Rs.10.00 lakhs.
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5
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Margin
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10% of on the Road price.
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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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No guarantee is required. However, loans are to be covered under credit guarantee scheme(CGTMSE)
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8
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Security
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Hypothecation of vehicle/s to be purchased out of bank finance.
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9
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Processing Charges
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No processing/documentation charges.
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10
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Inspection Charges
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Click Here
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11
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Repayment
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Maximum of 84 months in equated monthly instalments
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12
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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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