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SRTOScheme

Small Road & Transport Operators (SRTOs) / OEMs

The key feature of the scheme is as follows :

Target

 

Individuals, Proprietorship/Partnership firms/Limited Company, Trust Society

 

Purpose

 

To finance commercial vehicles/earthmoving equipment/excavators for commercial use and/or captive use

 

Eligibility

 

Limits upto Rs100 lacs as per Scoring sheet 20 marks, above Rs 100 lacs appropriate rating model

 

Type of Facility

 

Term Loan

 

Margin

 

Minimum 15%.

 
 

Rate of Interest

As applicable

 

Security

 

Hypothecation of Vehicle/Equipment (Registration of Bank’s charge with the RTO and in the RC Book in the case of vehicles)

 

Items for Finance

 

Cost of equipment/”On the road” cost of vehicle (to include cost of chassis, body, tools, insurance for the loan tenure, registration cost, road tax, accessories and AMC)

Repayment

 

5 to 7 years including moratorium 3 months. Repayment holiday 3 months during monsoon may be considered.

 

Processing & other charges

Nil upto Rs. 5.00 lakhs.