Term Loan of maximum 85% of invoice value of the vehicle. No maximum ceiling.

An individual, transport operators, an association, Sole Proprietor, Partnership firms, Private Ltd. Companies, Public Ltd. Companies desirous of owning transport vehicle(s) viz. E-Rickshaw, for carrying passengers or goods on hire, are eligible for financing under the scheme.

The applicability of the scheme shall be confined only to Chandigarh & Distt. Panchkula.

The borrower(s) shall hold the necessary driving license or engage driver(s) possessing valid license to operate the type of vehicle for which credit is sought.

The eligibility age, in case of individuals would be from 18 years to 62 years.

Maximum period of 36 months by monthly instalments or upto 62 years of age whichever is earlier.

Minimum 15% of the invoice cost of the vehicle.

Primary : Vehicle purchased to be hypothecated to the bank. Name of the bank must be mentioned on the RC (Registration Certificate).

Collateral : 3rd party guarantee acceptable to the Bank and the borrower will also provide at least one Post Dated cheque as security for entire loan amount sanctioned.

ROI- 10.75% as on 20-05-2025 subject to change from time to time.
Rs.1000/- per loan case plus applicable taxes.
CIBIL 650 or above.
NIL pre-closure or hidden charges.