Does Bank give loan for petrol pump?

Banks today offer a wide variety of loan options

Interest Rates Between 15% and 27%
One time processing fee 2-3%
Tenure Up to 2 years
Pre-closure fee 0
Loan Amount Rs. 50,000 – Rs. 2 crores

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Consequently, how can I get HP petrol pump dealership?

For applying online for HPCL retail out the dealership, the applicant needs to visit HP retail webpage. From the main page click on ‘About HP retail’ option, the link will redirect to new page. In the new page select Petrol Pump Dealership from the menu bar. The link will move to a new page.

Likewise, how can I get Indian Oil petrol pump dealership? Eligibility Criteria

  1. A resident of India (as per Income tax rules) can own an IOCL Petrol Pump.
  2. Age of the IOCL dealer should not be less than 21 years and not more than 55 years except for Freedom Fighter under the CC2 category.

Also, how can I start a petrol pump business?

To open a petrol pump business, you must have a good investment capacity to start with. There are two types of charges for opening petrol pumps in India: Rs 12 lakhs for ROs for rural areas and Rs 25 lakhs for ROs in urban areas, though the amount may vary from company to company.

How much money does petrol pump owner make in India?

As of April, 2017, petrol pump owners earn Rs 2020.38, plus 0.86 per cent of retail price, as commission for selling every kilolitre of petrol, stated a study by Newsflicks.

How much petrol is sold daily in India?

List of countries by oil consumption

Rank Country/Region Oil consumption (bbl/day)
3 India 5,271,000
4 Japan 3,812,000
5 Saudi Arabia 3,788,000
6 Russia 3,317,000

Is opening petrol pump profitable?

Total profit of the petrol pump business

Monthly profit for the petrol pump business is 2 lakhs – 1.35 lakhs= 65000 Rs for rural areas. Monthly profit for the petrol pumps business is 4.2 lakhs – 1.95 lakhs = 2.15 lakhs /month for city side. There is 100% no loss in this business.

What are the documents required for petrol pump?

Eligibility Criteria

– To set up Petrol Pump in a rural area, the applicant must have a valid 10th mark sheet proof for verification of date of birth. – SC / ST / OBC applicants must be the 10th pass, whereas it must be the 12th pass for the general category.

What is RO in petrol pump?

Reservation for retail outlet (RO) dealerships.

What is the budget to start a petrol pump?

To start a petrol pump, the applicant must show the ability to invest a minimum of Rs. 25 lakhs in case of regular petrol pumps and Rs. 12 lakhs in case of rural petrol pumps.

What is the cost of CNG pump?

For opening a CNG pump, applicants will have to make an investment of about Rs 75 lakh. It includes license fee and pump costs. To install a CNG gas production (CBG) plant, you are required to invest about Rs 2.99 crore, but it does not include licence fee.

What is the margin in petrol pump?

At 6 per cent, the dealer margin will be around Rs 6 a litre on petrol, and Rs 5.5 a litre on diesel in most parts of the country. The exact margin for a dealer varies as per a graded formula with a higher margin for those pumps with lesser sales and in rural areas.

What is the profit per Litre of petrol pump?

petrol pump owners make around 205/- per KL (kilo-litre) with 0.89% extra on retail petrol where the diesel varies from 1502.13 per KL (kilo-litre) and 0.27% retail price.

Which bank gives loan for petrol pump?

People Also Look For

Personal Loan Interest Rates November 2021
HDFC Bank 10.25% – 17.00%
ICICI Bank 10.50% – 17.50%
IndusInd Bank 11.00% – 23.00%
Kotak Bank 10.75%

Which type of land is required for petrol pump?

Normally, the area of 800 square meters to 1200 square meters is sufficient to open a petrol pump. The application fee is Rs. 1000/- for regular retail outlets and Rs. 100/- for rural retail.

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