The “District Central Cooperative Banks and through its Branches: Small Road Transport Operators Loan (SRTO Loan)” scheme is launched by the Co-operation, Food and Consumer Protection Department of Tamil Nadu. The scheme aims to provide financial assistance to small road transport operators by offering loans of up to ₹10,00,000/-. The interest rate for this loan is set at 13% (subject to change). This initiative is designed to support the operational and infrastructural needs of small transport operators across Tamil Nadu.
Benefits
- Loan Access:
Eligible operators can secure loans up to ₹10,00,000/-. - Interest Rate:
The loan is offered at an interest rate of 13% (subject to change).
Eligibility
- The applicant must be a resident of Tamil Nadu.
- The applicant must be a small road transport operator.
Application Process
Offline
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Collect the Application Form:
Interested applicants should visit the District Central Cooperative Banks or their branches to collect the application form. -
Fill Out the Form:
Complete all the mandatory fields, attach a passport-sized photograph (signed across if required), and include copies of all required documents (self-attested if necessary). -
Submit the Form:
Submit the duly filled and signed application form along with the required documents to the concerned authority. -
Receipt Acknowledgment:
Request a receipt or acknowledgment from the authority. Ensure the receipt contains essential details such as the submission date, time, and a unique identification number (if applicable).
Documents Required
- Identity proof (e.g., Aadhaar Card, PAN Card).
- Address proof.
- Proof of being a Small Road Transport Operator (if applicable).
- Any additional documents as required by the concerned authority.
Frequently Asked Questions
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What is the objective of this scheme?
To provide financial assistance for small road transport operations by offering loans up to ₹10,00,000/-. -
What is the maximum loan amount available under this scheme?
Up to ₹10,00,000/-. -
What is the interest rate for this loan?
13% (subject to change). -
Who is eligible to apply for this loan?
Residents of Tamil Nadu who are small road transport operators. -
Is there an age limit for applying for this loan?
The scheme details do not specify an age limit; eligibility is based on the operator status and residency in Tamil Nadu. -
How can one apply for this loan?
Applications are accepted offline through the District Central Cooperative Banks and their branches. -
Is this loan applicable to all types of transport operators?
The scheme is specifically designed for small road transport operators. -
How long does the application and approval process take?
The processing time may vary; applicants should inquire at their respective bank branch for specific timelines. -
What should an applicant do if their loan application is rejected?
Rejected applicants should contact the concerned authority for clarification and information on any possible re-application procedures. -
Is there a specified validity period for this loan scheme?
The scheme’s validity period is as per the guidelines issued by the Co-operation, Food and Consumer Protection Department, Tamil Nadu.