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National Helpline No1800 425 00 000

IND-SME E-VAAHAN

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Particulars	Guidelines
Target Group	Individual / Proprietorship concern / Partnership Firm / Private Limited Company / Public Limited Company / Limited Liability Partnership Firm / Trust
Purpose	For purchase of 2 / 3 / 4 wheeler electric vehicles (New vehicle) by MSMEs for the business purpose. 2 wheeler – for delivering goods to their clients at door step etc. 3 wheelers – AutoRickshaw passenger vehicles, commercial vehicle for transporting material. 4 wheelers – passenger vehicles for official use by MSMEs / commercial vehicle for transporting material.
Types of Facility	Fund Based: Term Loan
Loan Amount	Maximum Loan Amount: No ceiling More than one vehicle per borrower can also be considered.
Margin (Promoter’s contribution)	15% on “On Road” cost of the vehicle
Security	Primary Security: Vehicle/s purchased out of the Loan. Collateral Security: Micro & Small Enterprises CGTMSE coverage (if the limit is for Manufacturing / services unit upto Rs. 2 crore & if the limit is for Trade sector upto Rs. 1 crore or 100% collateral security in the form of immovable properties / liquid securities for the loan portion beyond CGTMSE coverage is to be obtained. Loans to Medium Enterprises upto Rs. 25 lakh: NIL Loans to Medium Enterprises above Rs. 25 lakh : 100% collateral security in the form of immovable properties / liquid securities for the loan portion above Rs. 25.00 lakhs. Personal Guarantee : Personal Guarantee of Partners / Directors as per extant guidelines
Repayment terms	Loan for 2/3 Wheeler: Maximum 48 months (Door to Door tenor) Loan for 4 Wheeler : Maximum 60 months (Door to Door tenor) i.e. total tenor including holiday period
Processing & other charges	Processing Charges: 0.59% of loan amount subject to a maximum of Rs. 5900/- All other charges applicable.

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( Last modified on Mar 10, 2023 at 04:03:05 PM )

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