Financial Daily from THE HINDU group of publications
Wednesday, Apr 27, 2005
Financial Daily from THE HINDU group of publications Wednesday, Apr 27, 2005 |
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Money & Banking
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Consumer Finance SBT scheme for road transport operators Our Bureau
Thiruvananthapuram , April 26 STATE Bank of Travancore (SBT) has launched a loan scheme for road transport operators. The scheme for the purchase of vehicles is open to all transport operators who own not more than 10 vehicles, says a press release issued by the bank. The loan applicant or the driver engaged by him should have a valid driving licence. The applicant should have the necessary route permit. Loans for second-hand vehicles not more than three-years-old will be considered, if the vehicle's life is greater than the loan repayment period. The margin for finance for new vehicles will be 15 per cent; that for second-hand ones will be 35 per cent. Loans for buying new vehicles can be repaid in three to seven years.
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