1. The loan will be provided to all second hand vehicles/used vehicles including heavy commercial vehicles to individuals/individual transport operators through Shriram Investments Limited (SIL).

2. SIL will select the prospective borrowers and direct them to the Corporation with their recommendation letter.

3. KTDFC shall finance upto 85% of the assessed value and vehicles upto seven years old will be financed under this scheme.

4. The security for loan will be the corporate guarantee of the Shriram Investments Limited, personal guarantee of individual transport operators and the Directors of M/s. Shriram investments limited and also the primary security i.e. vehicle. All vehicles released under the scheme will be hypothecated to KTDFC and the Board noting the hypothecations will be exhibited in the vehicle.

5. The loan amount will be granted either by Cheque or Demand Draft to the borrower. 

6. The Corporation will charge a rate of interest of 17.00% with 2% penal interest for default.

7. Repayment will be made in 48 months for repayment of interest and principal amounts from the drawn of 1st instalment of the loan. There will be a moratorium period of 1 month for starting repayment of EMI and also provision for premature closure.

8. The cost of application form and documentation charges will be the same as applicable to the general loan scheme of the company from time to time.

9. All loans will be disbursed through the Head Office only.

10. The Managing Director is authorised to sanction individual vehicle loans under the scheme according to the merit of each case.

11. The decision of the Corporation will be legally binding on all matters concerning the grant of loan.

12. Disputes if any will be settled within the Court of Thiruvananthapuram Jurisdiction only.

13. Shriram is authorised to collect repayment on behalf of the Corporation and issue receipt and repossess vehicles in case of default.