To purchase :-
- Vans and Buses and other transport vehicles for transportation of students, for Office/ General use of Educational Institutions.
Term Loan :-
- New Vehicle - Rs.300 lakhs (maximum).
- Second Hand Vehicle – Rs.100 lakh (maximum).
Societies / Trusts / Corporate and other entities running Educational Institutions registered with the appropriate Authorities.
Margin :-
- New Vehicles
- 15% of the on road price of the vehicle for new vehicles (including body building cost).
- Second Hand Vehicles
- 30% of the assessed value of the second-hand vehicle by the approved chartered valuer.
Repayment :-
- New Vehicles
- 7 years (including moratorium not exceeding 6 months).
- Second Hand Vehicles
- 5 years including moratorium Period not exceeding 3 months.
Security :--
- Primary Security
- Hypothecation of vehicle/s to be financed
- Collateral
- Loans against Second Hand Vehicles: Land And Building covering 30% of Loan amount
Interest :-
Fees & Charges :-
- 0.75% of the Loan amount plus taxes as applicable