|Purpose / Objective||To finance transport operators in MSME sector for purchase of TVS Autorickshaw / Public carrier vehicles|
|Eligibility||Existing / New transport operators for purchase of new commercial vehicles manufactured by M/s TVS Motor Company Ltd. (TVSMCL), for transportation of passengers. |
Borrower should be below 45 years age at the time of seeking loan. Relaxation in age upto 55 years may be considered by ZM on merits.
|Amount of Loan||Max. one commercial vehicle (up to Rs. 2 lac) per borrower |
Two commercial vehicles per group or Rs.4 lac, whichever is lower.
|Margin||15% on road price as per Proforma Invoice of the dealer, to be brought upfront|
|Repayment||Maximum 60 EMIs, including holiday period of 3 months (maximum).|
|Security||Hypothecation of vehicle purchased by availing term loan.