• For purchase of vehicles (construction of body thereon) including bus/ truck/ tipper/ tractors/ excavator/ heavy equipment’s/ etc. for commercial purpose

• An individual transporter operator desirous of owning transport vehicle(s), for carrying passengers or goods on hire and contractors are eligible for financing under the Scheme.
• Repayment is to be ensured within 65 years of age
• Net income to be minimum 200% of the EMI obligation.

• Need Based

• Minimum: 25.00% for New Vehicles
• Minimum: 30.00% of replacement cost or cost of purchase whichever is low for old Vehicles.

Vehicle Registered under Red Number Plate

• Minimum: 40.00% for New Vehicles
• Minimum: 50.00% of replacement cost or cost of purchase whichever is low for old Vehicles.

Electric Vehicle

• Minimum: 40.00% for New Vehicles

• Competitive rate(subject to change)

• up to 5 years

• Registration of vehicle in the name of bank
• Acceptable Collateral security
• Personal guarantee of person(s) acceptable to the Bank shall be obtained.

• Comprehensive policy with third party insurance as per banks’ clause.