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1. The Scheme:
TIIC grant loans for the purchase of the
following:
- Autorickshaws (with
auto permits) / Share auto rickshaws
- Tourist Taxis
- Delivery and Pick
Up Vans
- Tempos
- Trucks and Lorries
- Tankers, Trailors
and Tippers etc.,
- Passenger bus (with
necessary route permit)
- Tractor-Trailors (non-agricultural
and Public Carriers only)
2.
Eligibility : Assistance is eligible
only to existing clients (other than auto
rickshaws) who are prompt in repaying the
dues to the Corporation for a period of
3 years without any default.
3. Project Cost:
The project cost includes cost of chassis
body building, Tax, Insurance, Spare tyre
tube, tarpaulin etc.,
4. Promoter's Contribution:
Minimum Promoters' Contribution shall
be 15%.
5.
Repayment:
The loan will be repayable in 3 to 5 years
(including holiday period) in monthly installments
along with interest.
5. Collateral
Security:
Collateral security of value not less than
50% of the loan amount is required in respect
of vehicle loans. Higher collateral security
may be stipulated wherever considered necessary.
Under SEMFEX and TAHDCO Schemes collateral
may be relaxed upto 25%. For route buses
operating on fixed routes with valid permits,
collateral may be relaxed upto 25% where
loan assistance does not exceed Rs.10 lakhs.
6. Others:
The assistance shall be considered for a
maximum number of 20 vehicles (including
existing ones).
The vehicle should
be registered in the State of Tamilnadu.The
vehicle should be registered as a "Public
Carrier". |
