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.
