|
Target Customer
|
Core business activity to be of Customer Profile other than transportation, hiring or contractor works
|
|
Purpose
|
- For purchase of new Commercial Vehicle/Construction Equipment for Captive/ Agricultural purpose under scheme
- School Bus funding for educational institutions or borrowers having agreement with such institutions, provided school is a co applicant.
- Reimbursement will be allowed only for new assets within 3 months.
- Takeover of assets. In case of takeover, outstanding principal amount for balance tenor can be financed. Higher tenor can be also be considered provided there is no financial stress in the account.
|
|
Age (applicable for individuals)
|
- Minimum: 21 Years
- Maximum: 75 Years at the end of loan tenure
|
|
Interest Rate
|
Competitive R.O.I with no hidden charges
|
|
Loan Amount
|
- Minimum: 5.00 Lakhs
- Maximum: 10.00 Crore
|
|
Bureau Score
|
- Individual - -1 or ≥700
- Non-Individual – CMR 1-5
|
|
Charges
|
Attractive Charges with no hidden cost
|
|
Loan to value
|
Maximum Funding Value on Vehicle/Equipment
* applicable to eligible cases as per policy
|