Santa Claus comes around just once a year. In the meantime, there are Credit Cards.
One of State Bank of Hyderabad’s MSME schemes, Transport Operators Collateral provides financial assistance for companies, to procure new vehicle(s).
- This scheme provides assistance to companies looking to purchase their own vehicles.
- Customers are also helped with meeting financial requirements related to vehicle repairs.
- Assistance is provided for the purchase of second hand vehicles.
- Assistance is also given for the purchase of vehicles which are replacements for the existing vehicle.
Benefits and Features of State Bank of Hyderabad Transport Operators Collateral
- Adequate Loan Quantum.
Customers can procure loans that run up to Rs.1 crore in order to purchase vehicle(s).
- Repayment Tenure.
Borrowers will have an adequate term of 60 months to repay their loan. This also includes 6 months of moratorium period.
Margin applicable for Transport Operators Collateral is 25%.
- Primary security applicable is hypothecation of vehicles that is procured by Bank Finance.
- Credit Guarantee Scheme of CGTMSE covers the collateral.
Eligibility for State Bank of Hyderabad Transport Operators Collateral
Only transport operators are eligible to procure this option and there are no restrictions on the number of vehicles. However, a coverage under CGTMSE’s Credit Guarantee Scheme is compulsory.
How to Apply for State Bank of Hyderabad Transport Operators Collateral
Customers can apply for the Transport Operators Collateral scheme by visiting any branch of State Bank of Hyderabad.
Fees and Charges
Term fee can vary from 0.80% of the amount of loan to 1.25% based on the amount borrowed. For other fees and charges, customers can contact the bank.
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