To finance any vehicle including Electric / CNG / LNG / Hybrid registered with Road Transport Office (RTO) to be used for commercial purpose.
All commercially active entities including individuals, firms, LLPs, companies, societies, and educational institutions can apply. The scheme suits both new and existing transport operators using vehicles for business purposes
Up to ₹5 crore for purchasing new or used commercial vehicles (used vehicle must cost at least ₹5 lakh).
₹50,000 per vehicle financed by the bank, up to a maximum of ₹10 lakh per borrower
10% for loans up to ₹2 lakh; 15% for above ₹2 lakh (on-road price).
25% margin; vehicle should not be older than 2 years.
Hypothecation of the vehicle financed (RTO-registered in bank's name).
No collateral (covered under CGFMU).
50% collateral or full CGTMSE coverage or a hybrid of both.
Up to 60 months for new vehicles. For used vehicles, up to 60 months minus vehicle age (max 2 years old).
Starting from 8.95% to 12.55%*
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