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| Old Taxies |
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| OLD TAXIES |
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| Purpose:-
Under this scheme, you can avail loans to purchase New BS-III taxies (Diesel/LPG) after replacement of old metered BS-III taxies.
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| ELIGIBILITY:-Owners of old metered BS-III (Diesel/LPG) taxies which were registered prior to 1.1.1993, having valid rout permit from public vehicle department, Kolkata or RTA
Owners should possess valid driving license
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| QUANTUM OF LOAN:-
Rs. 3,22,000/-
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| APPRAISAL:-
Average DSCR should be minimum 1.25:1 and above.
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| MARGIN, I.E. YOUR SHARE:-
Own contribution Rs. 10,000/- (minimum)
Replacement Value of existing vehicle (to be provided by Hindustan Motors Ltd.) Rs. 45000/-
Government Subsidy Rs. 20000/-
Total Rs. 75000/-
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| Insurance:-
The vehicle will have to be comprehensively insured with mandatory bank clause.
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| SECURITY:-
Hypothecation of vehicle
* The advance will be covered by CGTMSE scheme
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| INTEREST:-
LINK.
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| REPAYMENT:-
60 equal monthly installments with maximum moratorium period of 3 months
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| Q. For what purpose the loan is granted?
A. The loan is granted for purchasing LPG driven, 3 seated, new auto rickshaw under loan cum subsidy scheme.
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| Q. Who can avail loan under the Scheme?
A. Loan is available to the resident of Chennai metropolitan area aged between 25-40 years having valid driving license with badge number. The applicant should not already possess any auto rickshaw permit and his/her family income should not exceed Rs. 36000/- p.a. The scheme is applicable for driver cum owner only.
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| Q. What is the quantum of finance?
A. Loan amount is restricted up to 90% of the cost of vehicle subject to maximum of Rs. 1,08,000/-.
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| Q. Is there any stipulation of collaterals?
A. No Collateral required under the scheme. However, the back ended subsidy of Rs. 25000/-will be treated as collateral security.
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| Q. What will be the repayment period?
A. The loan will be repaid in 60 equated monthly installment.
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| Product Testimonial |
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| Quick Links |
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 | | Link To: Union Monthly Plus |
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