Purpose of Loan |
To acquire Taxis (4 wheeler) for operating them as commercial passenger vehicles. |
Loan limit |
- Upto ₹ 10.00 Lacs per vehicle subject to aggregate maximum limit of ₹ 50.00 Lacs.
- Up to 10 (ten) vehicles per entity irrespective of it being an individual, partnership, sole proprietorship, private Ltd./ Public Ltd. companies.
|
No. of vehicles |
- Upto ₹ 10.00 Lacs per vehicle subject to aggregate maximum limit of ₹ 50.00 Lacs.
- Up to 10 (ten) vehicles per entity irrespective of it being an individual, partnership, sole proprietorship, private Ltd./ Public Ltd. companies.
|
Security clause |
Hypothecation of vehicle- Auto / Taxi etc. to be purchased from Bank’s Finance. (The hypothecation clause shall be registered with RTO) |
Process Fee |
Up to ₹ 5.00 lacs- Nil
Above ₹ 5.00 Lacs:- 0.50% of loan amount with a minimum of ₹500/ + Service tax, if any. |