RGB – Commercial Vehicle finance
RGB – Commercial Vehicle finance
- Target Group: : Transport Operators, Tour Operators, Travel Agencies, Business Enterprises, Contractors, Warehouse Owners, Logistics provider, Hospitality Sector, First Time Buyers with experience in related activities.
- Purpose: To finance new Commercial vehicles, Electric vehicles, Hybrid commercial vehicles, CNG vehicles , Ambulances
- Eligibility:
Minimum 2 years of experience in transport industry/Hospitality industry and other related business enterprise/activities; should be Income Tax Assesses (personal & Business).
MSMEs should be registered in UDYAM portal and should have Udyam Registration Certificate. - Nature of Loan : Term Loan
- Loan Amount: Minimum Rs. 10.00 lacs and maximum Rs. 50.00 lacs. (Loan for purchase of more than one vehicle can be sanctioned within the overall limit of Rs.50 Lakhs)
- Margin: 15% on road price
- Repayment Period: For Commercial Vehicle: Max 84 months including Moratorium: up to 6 months.
For Electric Vehicle: Maximum 48 months including Moratorium: up to 6 months. - ROI: 9.60% per anum *Product features and ROI are subject to change from time to time as per discretion of the Bank