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  • TMB- Vehicle Finance

    • To purchase Cars, Mini / Light / Medium Vehicles, Autos / Jeeps / Lorry / Bus and other commercial vehicles, etc to be operated on commercial basis
    • Heavy Vehicles registered with RTO such as Crane, Bulldozer, Earth Movers, Forklifts, Mounted vehicles, etc
    • Cranes, Road Pavers, Rigs which are not registered with RTO.
    • To meet the Working Capital requirements of Transport Operators such as wages, Salaries, fuel expenses, maintenance expenses, payment of road Tax, for vehicles by Transport Operators.
      Demand Loan / Term Loan / WCDL / OD (Running) / OD (Reducing balance)
    • For purchase of Vehicle: Maximum of Rs.500 lakh For Working Capital of Transport Operators: Upto 60% of the valuation of un-encumbered / HP free vehicles in the name of the borrower/ proprietor, subject to a Maximum Rs.50.00 lakh

    Individuals / HUFs, Proprietary Concerns, Partnership Firms, Limited Companies

    Margin :

    • Purchase of New Vehicle - 15% of the on road price of the vehicle for new vehicles (including body building cost, if the body building is done by the manufacturer)
    • Purchase of New Vehicle - 25% - If the body building is not done by the manufacturer and carried out by outsourced units
    • For Second hand vehicle - 40%
    • Working Capital - 40% of assessed value of Debt Free vehicles with residual life of not less than 5 Years.

    Repayment :

    • Demand Loan / Term Loan - 5 Years.
    • WCDL – Repayable in 36 months (to be reviewed every Year in monthly/ quarterly installments)
    • OD – Running account renewable on or before the end of one Year.
    • OD – Reducing balance method repayable within 36 months (to be reviewed every Year).

    Security :

    • Primary;:
      • Hypothecation over the assets created.
    • Collateral/ Guarantee:
      • . For credit Limits covered under CGS of CGTMSE – Nil
    • Credit Limits not eligible for cover under CGS of CGTMSE.:
      • . Collateral Security or Third Party Guarantee in case of Cars, Mini- Vehicles & Autos
      • For Trucks/ New Vehicles other than items Tangible and marketable Collateral Security to cover at least 50% of the Loan amount (or) credit worthy Guarantee.
      • Second Hand Vehicles: Tangible and marketable Collateral Security to cover at least 50% of Loan amount
      • Working Capital: Hypothecation of unencumbered / HP free vehicles having residual life of not lesser than 5 Years with 40% Margin

    Interest :

    Fees & Charges

    • 1.00% of the Loan amount plus Taxes as applicable