School Bus Loan

Bus services for schools are an essential part of the education system. School buses are integral part of school operation and provide a safe way of transportation for students to and from school. It plays an important role in increasing student strength.

If you are planning to buy New or Pre owned school buses, then School bus loan is for you. 

Product Details

Features

  • Loan Amount – up to Rs. 25 lacs. (Subject to financier guideline)
  • EMI options (Tenure) – up to 84 Months. (However, this tenure varies from lender to lender)
  • Wide range of acceptable Vehicles as hypothecation.
  • Loan to Value (LTV) – up to 75% of market value of Vehicle. (Subject to financier guideline)

Purpose

  • Purchase of New or Pre- owned Buses.
  • Refinance against your existing buses.
  • Balance transfer of your existing loan liabilities.

Eligibility

  • School recognized by State or Central Board
  • Positive Cash Flow. Underwriting based on actual cash flow analysis of the school, rather than analysing the traditional way of approving loans.
  • Committed Management.

Documentation

  • KYC Documents –ID proof, Residence proof & Pan card
  • Banks statement – Individual, Society, Trust, School
  • Financial documents – ITR / Audit report (If applicable)
  • Constitution Documents – Bye-Laws of Society / Trust, Member list, Copy of recognition and affiliation certificates.
  • Collateral – Vehicle Hypothecation.
Scroll to Top