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Eligibilty Criteria
* Maximum age of the proprietor – 60 years
* Minimum of 1 year of existence for proprietors and three years for corporates and
partnership firms
* Minimum net income of Rs. 1 lakh for last two years
* Minimum turnover of Rs. 5 lakhs for proprietorship, 10 lakhs for
partnership and Rs. 6 lakhs for Corporates.
Margin
* Term loan for new vehicle up to Rs 6 lakhs – 15%
* Term loans over 6 lakhs for old vehicles up to 2 years – 30%
* Old vehicles of 2 to 4 years – 40%
* Term loan for new vehicle up to Rs 6 lakhs – 15%
* Term loans over 6 lakhs for old vehicles up to 2 years – 30%
* Old vehicles of 2 to 4 years – 40%
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