سٹار ایم ایس ایم ای ای رکشہ فنانس

• For Purchase of New E Rickshaws
• Funding Cost of one time Battery Replacement

Nature of Facility

Term Loan

Quantum of Finance

Maximum :Rs 5 lakhs

• Only One E Rickshaw is to be financed at single point of time
• Total No of E Rickshaws financed under the scheme to a single borrower should not exceed 3 at any point of time)

Extent of Finance

• For New E Rickshaw: Maximum 85% of the invoice cost of vehicle or 80% of on Road price whichever is less.
• Battery Replacement after One Year: 75% of the Battery Replacement Cost (Finance for Battery Replacement to be considered only once, within the tenure of loan for purchase of E Rickshaw)
• Finance for Battery Replacement should be within the maximum quantum of finance under the scheme.

Security

• Primary: Hypothecation of Vehicle Purchased
• Collateral: Loans to be covered under CGFMU/CGTMSE