- Individuals, Company, Partnership, LLP engaged in civil contract activities.
- New vehicles/ machineries: Maximum 84 months.
- Used vehicles: Depending upon the residual life of vehicle, maximum up to 48 months.
- Hypothecation of vehicle / machineries to be purchased.
- In Equated Monthly Installments (EMI).
- New vehicles/machineries : 10%-15% on the cost.
- Old vehicles : 30% of cost
- View Latest Rate of Interest
- View Service Charges.
- Upfront charges will be collected (wherever applicable) towards legal, valuation, BIR etc.
The above information is subject to terms and conditions.For more details, please contact the nearest Branch
Purpose:
- Purchase of new vehicles/second hand vehicles (including JCB, tractors which are registered with RTA).
- Purchase of new machineries required for civil contract activities.
Maximum Amount:
- Based on requirement of the civil contractor with a maximum of ₹1000 lakh.
Frequently Asked Questions (FAQs) for KBL Contractor Mitra
What is KBL Contractor Mitra?
To meet the immediate credit requirement of civil contractors.
Who is eligible for availing KBL Contractor Mitra Scheme?
- The applicant should be a resident of India.
- He/ she should be attain age of majority.
- Individuals, Company, Partnership, and LLP engaged in civil contract activities.
What is the maximum loan amount I get from this scheme?
Based on requirement of civil contractor, maximum of Rs. 1000.00 Lakh with ceiling on the working capital finance availed by the borrower from the bank (fund + non fund based).
What is the period of Loan under this Scheme?
Maximum of 84 months for new vehicle and 48 months for used vehicles.
What is down payment/ Margin Money?
10% to 30% of the total cost of vehicles/machineries/equipments.
How I will repay the loans?
- In Equated Monthly Instalment.
- A holiday period of 3 months in case of fresh advances towards purchase of new vehicles/machineries may be provided. In such cases, overall repayment period including the holiday should not go beyond 84 months.
Is takeover is permitted to this scheme?
Yes, subject to take over norms of Bank.
Is reimbursement permitted ?
Yes, reimbursement of new equipment/Plants and machinery/ vehicles is permitted within 3 months from the date of Original invoice.
