![]() Term Loan: The loan will be repaid in 60 to 84 equated monthly installments (EMIs) with a moratorium period of 3 months. Primary Security: Hypothecation of assets created out of loan amount.Need based Term Loan, As per Mudra Scheme. Necessary permit/clearance for running E-Rickshaw is to be obtained from the local authorities as applicable. The aim of the scheme is to increase the confidence of the aspiring young person to become first generation entrepreneurs as also of existing small businesses to expand their activities.īranch should ensure that E-Rickshaw is registered and/or marked as hypothecation based on the guidelines issued by State Govt/Local authorities time to time. Documents and RTO Vehicle Transfer Forms as required by our Bank. ![]() Hypothecation clause should be registered in the books of Regional Transport Authority.Comprehensive Insurance with Bank Clause.To be covered under CGFMU/CGTMSE as applicable.Īpplicable based on quantum of loan, categorized as under :.Collateral Security: No collateral or Third Party Guarantee is to be taken.Primary Security: Hypothecation of assets created out of Bank finance.Maximum 60 EMIs commencing from one month after disbursement.Īssets created out of Bank finance to be insured with Bank clause, preferably through Bank’s Channel Partner.Īll Loans opened under this scheme will be classified under MUDRA/MSME. UCO Float Rate+ 0.55% ( UCO Float Rate as applicable from time to time) Maximum Rs.1.00 lac per vehicle per borrower by Branch Head of any scale. Scheme for financing Two Wheeler under Mudra Sl.No.įinancing Two Wheelers under priority sector MUDRA.
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