Individuals / Proprietorship/partnership firms & Limited companies owning & operating or proposing to own & operate by himself/itself transport vehicles for carrying passengers or goods on hire.
The borrower should have sufficient net worth to pay for the margin and initial recurring expenses. In case where a borrower does not meet this requirement, a co-borrower having sufficient net worth can be included.
Ownership of a vehicle is not mandatory.
Minimum age of Applicant: 21 years
Maximum age of Applicant at loan maturity: 65 years.
Minimum experience in the business for individuals: 2 years.
Minimum period of existence in case of firms & companies: 2 years in business.
Borrower should reside within the service area of the branch.