IND MSME VEHICLE
· 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.
· 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 Apr 02, 2020 at 01:04:57 PM )