Machinery/Equipment Loan

Purpose

 For purchase of new Machinery/Equipment

Eligibility

 Businessmen, Small Industrialist, Professionals, Manufacturing Units, Service Provider etc.

Provider etc.

Loan Amount

70% of the Machinery / Equipment quotation value.

Margin

30% of the Machinery / Equipment quotation value

Repayment Period

 Maximum 60 months

Rate of interest

  • Loan Amount between Rs. 1.00 Up to 9,99,999 --- 11.75 %
  • Loan Amount between Rs. 10,00,000 to 24,99,999 --- 11.50 %
  • Loan Amount between Rs. 25,00,000 to 49,99,999 --- 11.25 %
  • Loan Amount between Rs. 50,00,000 to 74,99,999 --- 10.25 %
  • Loan Amount between Rs. 75,00,000 to 99,99,999 --- 09.75 %
  • Loan Amount Above Rs. 100,00,000 --- 09.50 %

Processing fee

Nil

Share linking

1.5% of the loan amount

Guarantee

 Two/Three guarantor Required holding of the property & the Income Tax payer.

Security

 Hypothecation of Asset Financed & Collateral Security in the form of Mortgage of Immovable Property if required.

 

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