Machinery Equipment Loan

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.