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.|
(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.
15% – Auto / Share Auto / Minidor
20% – Loans up to Rs. 10 lakh
25% – Loans more Rs.10 lakh
|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%|
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.
|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%|