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1. The Scheme: TIIC grant loans for the purchase of the
following:
- Auto-rickshaws (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)
- Excavator
- Mobile Crane
- Rigs
2.
Eligibility : The vehicle should
be registered in the State of Tamilnadu. The vehicle should be registered
as a "Public Carrier".
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 Period :
The loan will be repayable in 3 to 5 years
(including holiday period) in monthly installments
along with interest.
6. Collateral
Security:
Collateral security of value ranging from
50% to 100% shall be insisted upon
depending on the type of vehicle and the
risk perception. 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.
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