S. No

Parameters

Guidelines

1

Product Name:

PARIVARTAN” Scheme earlier known as “NAYA SAFAR YOJANA”

2

Nature of Facility:

Term Loan

3

Applicability

Branches operating in Delhi & NCR Districts

4

Purpose:

Vehicle loans (buses and trucks) as for commercial use aimed at replacement of BS IV and older commercial vehicles and purchase of new or used BS VI and electric vehicle

5

Target Group:

Individuals and firms only for commercial use of vehicle

6

Eligibility Criteria

• Existing MSME borrowers with satisfactory track record for last 12 months (no SMA-1/SMA-2).
• Existing Current Account customers with minimum 12 months vintage and no borrowing with other banks.
• New customers with 12 months banking/credit history with other banks eligible.
• Age: 21-70 years at sanction; loan to be repaid before borrower attains 75 years.
• Udyam Registration mandatory; LEI wherever applicable.

7

Loan Amount/Assessment

For new vehicles:

Minimum: Rs. 10.00 lakhs

Maximum: Rs.5.00 crores

For old vehicles:

Minimum: Rs. 5.00 lakhs

Maximum: Rs. 1.00 crore

8

Margin

New Vehicle:

Minimum: 15% of on-road price

In case of Body Building, minimum margin of 25% on body building cost must be ensured.

Old Vehicle:

Minimum 30% of the approved cost.

9

Interest Subsidy

5% interest subvention available for 5 years from the date of vehicle registration; benefit ceases on loan foreclosure.

10

Repayment

84 months (Interest subvention benefit will be provided only up to 5 years)

Moratorium: 03 months

11

Rate of Interest

Based on internal Rating.

12

CIC Report

Minimum CIC: >=700 for all the Partners/Directors/Proprietor. Applicants having CIC score "-1" or NTC scores are also eligible under the scheme.

CIBIL MSME Rank: CMR-5 and above

13

Prime Security

Hypothecation of the vehicle(s) purchased out of the Bank finance.

14

Collateral Security

No collateral security up to Rs. 20.00 Lakhs

Loan to be covered under CGTMSE.

15

Scheme Timeline

• Eligible beneficiaries must apply, purchase, and register the replacement vehicle (or trade the Certificate of Deposit) within 2 years from 14.07.2026.
• Motor Vehicle Tax Concession: Available for 10 years from the date of registration of the replacement vehicle.