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Baroda Tankerz loan

Power your Bulk LPG
Transport Business

Baroda Tankerz-
Loan Under Stand-Up India Scheme

Baroda Tankerz Loan

Baroda Tankerz Loan

Product Details

Finance to SC/ST entrepreneurs for purchase of LPG tankers by successful allottees of transportation contract by Oil Marketing Companies (IOC/BPCL/HPCL) under Stand-Up India Scheme

Key Benefits

  • Structured product for quick & hassle free loan approval
  • Collateral free Credit Facility under Stand-Up India Scheme
  • Attractive Interest Rate
  • Longer tenure up to 60 months
  • Higher amount of eligibility upto Rs.100.00Lacs
  • Pan India
  • Minimum Documentation

Product Features

  • Eligible group : SC / ST Entrepreneurs who have secured tender (Bulk LPG transportation Contract) of Oil Marketing Companies (IOC/ BPCL/ HPCL). In case of non-individual enterprises, 51% of the shareholding and controlling stake should be held by SC/ST.
  • Purpose: For the purchase of new Tanker Trucks for commercial use with Oil Marketing Companies.
  • Type of Facility : Demand Loan / Term Loan / Clean Overdraft/ Bank Guarantee
  • Limit : Above Rs.10 lakh and Maximum Rs.100 lakh (FB & NFB put together)
  • Repayment Period : 60 months
  • Margin : Term Loan
    Option I - Minimum 25%
    Option II - Minimum 10%
    Margin money can be provided in convergence with eligible Central /State Schemes.
    In such cases the minimum margin contribution from the borrower will be at 10%
  • Security : Collateral free facility
  • Age Limit:
    Minimum Age : Applicant 21 years
    Maximum Age : 55 years

Interest Rate & Charges

  • Option I For margin 25% - Term loan/Overdraft – BRLLR + 0.50%
    Option II For margin 10% - Term loan/Overdraft – BRLLR + 2.0%
  • Commission on Bank Guarantee : Card Rate
  • Unified processing charges : Flat Rs.15,000/- + Tax

Other Terms and Conditions

    • Credit Guarantee Coverage Fee: To be borne by the borrowers.
    • Security : Hypothecation of vehicle financed under Term Loan

Repayment

  • Term Loan- Maximum 66 months (door to door) including moratorium period of 6 months. i.e. Repayment of 60 months
  • Clean OD- To meet initial expenses upto two months from commencement of operation of vehicle and thereafter limit to be reduced in 36 equal instalments. Interest to be serviced as and whencharged.

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