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Any individual, Proprietorship firm, Partnership firm, Private Ltd Company, Ltd Company, Society, and, Trust having minimum two years of experience can apply for the facility.

Individual age norms: Minimum 20 years and Maximum 68 years at the time of maturity of loan

Stamp duty charges shall be applicable.

Processing Fee in Commercial Vehicles and Construction Equipment ranges from 0.30 – 0.50% with applicable taxes.

Additional Documentation charges of ₹1100/- with applicable taxes.

Loan Cancellation charge of ₹3000/- with applicable taxes.

USFBL reserves the rights to revise the rate of interest and processing fee and documentation charge from time to time, at its sole discretion

Bank will apply Penal Charges plus applicable taxes in case of default in the payment of EMI on due date.

In case of default in EMI payment on the due date, Interest accrued for the period starting from the date of previous EMI payment till subsequent EMI date [EMI in default], will be debited in the Loan Account of the Borrower on EMI due date. Bank will keep charging Interest at the contracted rate of Interest on the Principal portion of EMI not paid and debit the same in borrowers’ loan account on 2 the next EMI due date. The Interest on the unpaid principal amount will be calculated till the time same is paid to the Bank.

Additionally, the Bank will levy the penal Charges for each instance of EMI payment default.

The Penal Charge will be calculated @ 2% per month on the overdue amount for the Overdue period along with the Applicable taxes.

The Penal charges due to occurrence of the incident of non-payment of EMI on due date will be accrued separately and will be kept on hovering and will not be debited in Borrowers Loan Account.

The Penal charges to the borrower will be applied on Cash basis i.e. only when borrower makes payment towards the Penal charges, same will be applied in the Loan Account of the borrower.

The Penal Charge if not paid during the tenor of the loan will be collected at the time of closure of the loan account from borrower or bank will waive the Penal charges basis Business justification provided by business units/ Customer servicing units.

Funding for all types of Commercial Vehicles and Construction & Mining Equipment.

Flexible Tenure. Tenure may vary from 12 to 60 months, depending upon the deal structure and the repayment capacity.