The Tamilnadu Industrial Investment Corporation Ltd
(A Government Of Tamil Nadu Undertaking)
Funding Success...

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.

Promoter’s Contribution

 

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%
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