Transport Loan Scheme
| Objective | TIiC grants loans for the purchase of autorickshaw, tourist taxi, delivery vans, tempos, trucks and lorries, tankers, tippers, trailers, passenger bus (with route permit), tractor-trailors (non agricultural and public carriers only) up to a maximum number of 20 vehicles (including existing ones) per unit. Earth Movers, Mobile crane, Fly ash carrier, Loader, Concrete Mix Pump vehicles etc., can also be considered. | ||
| Eligibility |
(i) The vehicle should be registered in the state of Tamilnadu. (ii) The vehicle should be registered as a ‘public carrier’ (iii) Loan will be considered for individuals, Prop./p.ship firm/ pvt./public Ltd. companies and registered Co-op. societies. |
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Promoter’s Contribution
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15% – Auto / Share Auto / Minidor 20% – Loans up to Rs. 10 lakh 25% – Loans more Rs.10 lakh |
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| Repayment | 56 monthly instalments and 4 months holiday if body building is involved 57 monthly instalments and 3 months holiday for others. | ||
| Collateral | Branches having overdues | Minimum collateral Norms | |
| Less than 10% | 50% | ||
| More than 10% | 60% | ||
| National Permit Vehicles | 75% | ||
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Security Deposit can be accepted only in respect of Auto / Share Auto / Minidor. For all other cases, immovable properties only has to be offered. In respect of good clients who are in Standard Category for not less than 3 years, purchase of private vehicle will be permitted by extending the charges on existing assets with the personal guarantee of the borrower. |
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| Ban lifted on assistance to Drilling Rig Segments on 06.02.13 | |||
| Rigs registered in Tamil Nadu | 75% (Collateral required) | ||
| Rigs registered in other states | 125% (Collateral required) | ||
| Promoter’s contribution for both | 40% | ||
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