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

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2.5% 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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