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SRTOScheme

Bank has special scheme for financing Small Road & Transport Operators (SRTOs) / OEMs.

The key feature of the scheme is as follows :

Target group

 

Individuals, Proprietorship / Partnership firms, Limited Company, Trust, Society

Purpose

 

To finance commercial vehicles / earthmoving equipments / excavators for commercial use and/or captive use

Items to be financed

 

Cost of equipment/“On the road” cost of vehicle (to include cost of chassis, body, tools, insurance for the loan tenure, registration cost, road tax, accessories and AMC)

Type of Facility

 

Term Loan

Margin

 

Minimum 15% of the project cost as given under Items to be financed.

 

Rate of Interest

 

ROI will be linked to MCLR

Repayment

 

5 to 7 years including a moratorium of 3 months. Repayment holiday of 3 months in a year during monsoon may be considered within the original tenor of the term loan.