Power your bulk LPG transport business.
Opt for Baroda Tankerz Loan under Stand-Up India Scheme.
Baroda Tankerz Loan
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Benefits
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Features
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Eligibility
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Interest rates & charges
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Documentation
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Most Important Terms and Conditions (MITC)
Baroda Tankerz Loan Benefits
Baroda Tankerz Loan Features
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 lakhs and maximum Rs. 100 lakhs (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
Baroda Tankerz Loan Eligibility
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.
Age limit:
Minimum age: Applicant 21 years
Maximum age: 55 years
Baroda Tankerz Loan Interest rates & 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:
Card rate
Baroda Tankerz Loan Documentation
Not available
Baroda Tankerz Loan Most Important Terms and Conditions (MITC)
- 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 a moratorium period of 6 months. i.e. repayment of 60 months.
- Clean OD: To meet initial expenses up to 2 months from commencement of operation of the vehicle and thereafter limit to be reduced in 36 equal instalments. Interest to be serviced as and when charged.

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