IND MSME VEHICLE
IND MSME VEHICLE
| Particulars | Guidelines |
| Target Group |
· All existing MSME clients with satisfactory promoter/s’ track record, group affiliation and viable project/s, with or without credit facilities. · Should have maintained satisfactorily operated account at least for the last one year. · Applicant should have Road Permit issued by Competent Authority. |
| Purpose | Financial Assistance for purchase of new vehicle (LMV /HMV) for existing MSME units meant for transport of Men and Material (This includes Car, Tempos, Mini Van, Trucks etc.) |
| Types of Facility | Term Loan |
| Loan Amount | Maximum- Rs.2.00 crores. |
| Margin (Promoter’s contribution) | 15%
|
| Security | Primary Security: Hypothecation of vehicles purchased out of Term Loan.
Collateral Security: · CGTMSE coverage for eligible accounts.
· Guarantor/s wherever applicable. |
| Repayment terms | · In case of LMV : 60 EMIs
· In case of HMV: Maximum 60 months (Door to door) Principal in equal Monthly Instalments and Monthly interest is to be serviced then and there |
| Processing & other charges | Maximum of Rs.5000/- in case of LMV & Rs.10000/- in case of HMV
|
( Last modified on Sep 03, 2022 at 07:09:27 PM )
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