IND SME E VAAHAN
IND-SME E-VAAHAN
| Particulars | Guidelines |
|---|---|
| Target Group | Individual / Proprietorship concern / Partnership Firm / Private Limited Company / Public Limited Company / Limited Liability Partnership Firm / Trust |
| Purpose |
|
| Types of Facility | Fund Based: Term Loan |
| Loan Amount | Maximum Loan Amount: No ceiling
More than one vehicle per borrower can also be considered. |
| Margin (Promoter’s contribution) | 15% on “On Road” cost of the vehicle
|
| Security | Primary Security: Vehicle/s purchased out of the Loan.
Collateral Security: Micro & Small Enterprises CGTMSE coverage (if the limit is for Manufacturing / services unit upto Rs. 2 crore & if the limit is for Trade sector upto Rs. 1 crore or 100% collateral security in the form of immovable properties / liquid securities for the loan portion beyond CGTMSE coverage is to be obtained.
Loans to Medium Enterprises upto Rs. 25 lakh: NIL
Loans to Medium Enterprises above Rs. 25 lakh : 100% collateral security in the form of immovable properties / liquid securities for the loan portion above Rs. 25.00 lakhs.
Personal Guarantee : Personal Guarantee of Partners / Directors as per extant guidelines |
| Repayment terms | Loan for 2/3 Wheeler: Maximum 48 months (Door to Door tenor)
Loan for 4 Wheeler : Maximum 60 months (Door to Door tenor) i.e. total tenor including holiday period |
| Processing & other charges | Processing Charges: 0.59% of loan amount subject to a maximum of Rs. 5900/-
All other charges applicable. |
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