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IND MSME VEHICLE

IND MSME VEHICLE

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Particulars Guidelines
Target Group
  • All Micro, Small & Medium Enterprises (MSME) as per extant definition of Government    of India.

·   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.

  • For accounts other than CGTMSE – Immovable Properties with a minimum RSV of 50 %.

·      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

 

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( Last modified on Sep 03, 2022 at 07:09:27 PM )

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