Under Union Transport scheme you transport operators can avail loans for up to 10 vehicles of all make, Utility Vehicles, Light Commercial, Medium Commercial, Luxury, and Heavy Commercial Vehicles.

• Up to Rs.15.00 lac for 1 to 2 vehicles.
• Up to Rs. 350 lac per fleet operator (owning not more than 10 vehicles)

20% of the Term Loan.

Term Loan.

Prime – Assets created out of Bank Finance (Vehicles)

Collateral– Equitable Mortgage of property or hypothecation of existing vehicles or any other tangible security value of which should not be less than 25% of loan amount.

Third party guarantee based with acceptable means.

* If the finance is eligible under Credit Guarantee Scheme of CGTMSE, collateral security will be Nil

INTEREST RATE :- (Base Rate - 10.50%   w.e.f. - 01-05-2012)

Tie-up Arrangement with M/S Ashok Leyland LTD for SRTOs

Up to 5 years with a moratorium of 6 months.

A. The scheme is available to the Individual or association of not more than 6 persons and Corporates/firms engaged as fleet operators owning not more than 10 vehicles including the one proposed to be financed for acquiring vehicles of all make, Utility Vehicles, Light Commercial, Medium Commercial, Luxury, and Heavy Commercial Vehicles.

A. Yes, subject to the condition that the vehicle to be financed should not be more than two years old and its remaining useful life should be more than the repayment period of the proposed loan.

A. Finance is limited up to Rs.15.00 lac for 1 to 2 vehicles and up to Rs. 350 lac per fleet operator for owning not more than 10 vehicles.

A. The margin required is 15% for both Term Loan and Working Capital limits under the scheme.

A. The value of collaterals should not be less than 25% of loan amount by way of Equitable Mortgage of property or hypothecation of existing vehicles or any other tangible security.

A. The Term Loan to be repaid within 5 years of maximum period with a moratorium of 6 months.