“NAINI COMMERCIAL VEHICLE” SCHEME FOR FINANCING OF COMMERCIAL VEHICLE

Purpose

Demand loan/Term Loan for following purpose:

To purchase new commercial vehicle (Commercial Car / Mini Bus/ Tempo/ 3 Wheeler (including battery rickshaw)/Bus / Truck etc.

Eligibility:

All business units i.e. Individuals, Proprietorship, Partnership concerns (including LLP), Limited Companies, engaged in transportation business. The applicant (key person/proprietor/ partners/promoters) should be local resident. The applicant should have satisfactory Banking relationship of minimum 6 months

Margin :

Minimum 25%

Features :

Repayment Schedule Loans up to 25 Lac: Loan period of 5 years. Loans above 25 Lac up to 75 Lac: Loan period of 7 years

Age of individuals : Minimum: 18 years. Maximum: 70 years at the time of maturity of proposed loan tenure

Maximum Loan amount is Rs 75.00 Lakh per borrower.

For loans up to Rs.10 lakh: No collateral is required