About Auto/Machinery Loan

Auto/machinery loan is aimed at helping manufacturers, enterprises and service providers (restaurant/cab drivers etc) to acquire financing in order to buy and purchase new and more efficient equipment, machinery and auto vehicles for their business needs

Total value will be based upon the quotation submitted for the machinery/auto vehicle.

Additional Documents requirement

Before applying for loan, the applicant have to have following loan specific documents in additional to the basic documents.

valid driver's license

Borrower must submit valid driver’s license in event of individual driver (Auto Loan) and submit relevant documents.

On-road quotation

Quotation of the on-road price of vehicle/machinery

Other charges

machinery to be financed along with installation and transportation charges.

Proof of Mortgage

Vehicle/machinery financed to be hypothecated to GDF.

Features of Machinery Loan

All loans are not created equal, Machinery loan has become a great option for people to use.

Attractive Loan amount

This is a loan with ticket size up to 20 lacs, given for period of up to 36 months. The repayment of these loans will be on monthly basis.

Repayment

The repayment of these loans will be on monthly basis. Interest calculation will be at monthly rest.

Funding on Loan

The total financing will also be subjected to 75% of the total value of the machinery including transportation and installation charges and of the on road price of the vehicle. Total value will be based upon the quotation submitted for the machinery/auto vehicle.

Flexible Pre-closure and the pre-payment

Pre-closure and the pre-payment of such loans are all allowed at no additional cost or penal charges. Late Repayment fees of INR 50/day will be charged.

Machinery Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a personal loan.

Proof of Established Business

Applicant should have a registered Business/Legally permitted business/activities

Proof of Tibetan

The member should be Green Book Holder.

Age

Applicant must be above 18 years of age.

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Unlike Tibetan Refugee Livelihood Support Program (TRLSP), the Commercial Loan Program will not bind by any period for application submission unless specifically specified while scheme launch.

Any Tibetan entrepreneurs through the settlement office.

Currently, our policy allows one loan scheme for a family at a given time. Hence, if the applicant is an active client of GDF, He/she must wait until the existing loan tenure is finished or close the existing loan account before availing any other loan scheme.

Allowing any such changes will be based on the specific case, although such changes will require the applicant to notify partner organization, revise the document and submit it again through partner organization.

Currently, there is no option for the borrower to avail any moratorium period on loans sanctioned by GDF except under circumstances as may be notified by the Reserve Bank of India

GDF from time to time will collaborate with various institutions/ organizations to provide financial access to the targeted clients. Such collaboration will help GDF to leverage these partner organization’s experience and knowledge of the potential customer and result in more efficient underwriting process.

Currently for general public, Tibetan Settlement Offices will be the point of contact through and through they can apply for credit facility from GDF.
While in future, GDF might explore many such partnerships which will bring synergy between GDF and such community based institutions. Ultimately, resulting in better effectiveness and efficiency.

Any such schemes will be announced through official website of Central Tibetan Administration (http://bod.asia/) and through GDF’s Official website (https://gangjongdevelopmentfinance.com/).

Yes. GDF’s products are specifically designed to meet the need of their potential clients. Hence, in such aforementioned events, the loan products will always be available for general public.

Get a Quote

Now apply for a Car Loan online, All you need to do is provide your details below application form.