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 Rs.5,00,000 --- 10.00%
  • Loan Amount between Rs.5,00,001 to Rs.49,99,999 --- 09.75%
  • Loan Amount between Rs.50,00,000 to Rs.74,99,999 --- 09.50%
  • Loan Amount between Rs.75,00,000 to Rs.99,99,999 --- 09.25%
  • Loan Amount between Rs.1,00,00,000 and above --- 09.00%

Processing fee

Nil

Share linking

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.

 

© Copyright The Anand Mercantile Co-Operative Bank Ltd., All Rights Reserved

Design By - SWS | New