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SRTOScheme

Bank has special scheme for financing 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

 

Purchase of commercial vehicles/Earthmoving equipment/excavators for commercial 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%.

 

Security

 

Hypothecation of vehicle.

 

Items for Finance

 

Cost of Equipment / Cost of vehicles on Road.

Repayment

 

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