ISFC

Bus Loan

Buses are integral part of schools and parents find it safe if schools have their own buses to pick and drop students. If you are planning to buy new or old buses, we can extend loan to your institution.

Product Details

Characteristics

Secured loans upto Rs. 25 lacs.
EMI options upto 48 Months.
Wide range of acceptable Vehicles as hypothecation.
Loan to Value (LTV) of upto 75% of market value of Vehicle.
Loan disbursement through NEFT/RTGS.
No foreclosure charges upto 25% of the loan amount.

Purpose

Purchase of New or Old Buses.
Refinance against your existing buses.
Balance transfer of your existing loan liabilities.

Eligibility

Existing Schools/Colleges.
Minimum Monthly Fee of Rs 400 per student.
Minimum student enrolment of 250.
Strong operational income and Committed Management.
Good repayment track of existing loans (if any).

Documentation

Duly filled in Application form.
KYC Documents –ID and Residence proof of applicant and co-applicant.
Latest 6 months Banks statement of applicant and co applicant.
Pan card of applicant and co applicant.

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