Transport Loan is extended to the intending customers for purchase of vehicles such as excavator, trucks, buses/Light vehicle/taxis etc for personal as well as commercial purposes.
Quantum – 60% of the cost of vehicle if the invoice value is less than Nu.800,000 and 50% of the cost of vehicle if the invoice value is more than Nu.800,000 .
Tenure: 5 years
The vehicle/ equipment to be purchased will be the security for the loan.
Commercial Vehicle – Max. 5 years
Indian Made – Max. 5 years
Foreign Made – Max. 5 years
Second Hand Vehicle – based on the purchase model.
Copy of CID of both the applicant and the guarantor.
- One recent PP size photograph of the applicant.
- Copy of the Quotation/Invoice for new vehicles from authorized vehicle dealers.
- Award letter in case of Passenger buses
- TCB letter and tour operating license in case of tours and treks
- Valid Import license for import of vehicles from 3rd countries (other than India).
- Valid Trade license for hiring equipment (tippers/trucks/machineries/tractors/ dozers and excavators)
- Copy of Registration Certificates for second hand vehicles.
- Sale Deed agreement (in case of financing second hand vehicles).
- Copy of valid Insurance Policy (in case of second hand vehicles).
Download Transport Loan Application