Small Commercial Vehicle finance under tie-up with Mahindra & Mahindra Ltd - Business

Features

• Target Group:
  • Small Road Transport Operators and First Time Users engaged in transport services who are acquiring new Small Commercial Vehicles (SCVs) & Electric Vehicles (EVs) manufactured by Mahindra & Mahindra.
• Quantum of loan (Min/Max) :
  • 85% LTV on on-road price.
  • Maximum: Rs.10 lakhs.
• Margin :
  • 15% on on-road price.
• Pricing :
  • Competitive pricing linked to EBLR
• Collateral Security: Loan to be covered under CGTMSE. CGTMSE fee to be paid by the Bank.
• Repayment Period:
  • SCVs: Repayable up to 72 EMIs. (including Moratorium of 1 month).
  • EVs: Repayable up to 48 EMIs. (including Moratorium of 1 month).
• Upfront Fee:0.50% of loan amount plus applicable taxes.