Power your bulk LPG transport business.

Opt for Baroda Tankerz Loan under Stand-Up India Scheme.

  • Benefits
  • Features
  • Eligibility
  • Interest rates & charges
  • Documentation
  • Most Important Terms and Conditions (MITC)

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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