Machinery Loans
- Loans given for purchase of New and Old machinery to small and medium enterprises
- Loan Tenure upto 60 months
- Interest Rate for the product Ranges from 12% to 24%.
- Customised schemes are offered as per requirement of customer
- Benefits of governments schemes is also provided (if applicable/T&Cs apply)
- Hassle Free Loans: Quick turn around time, hypothecation of the machine financed
- Special Site visit based assessment policy with limited documents for loan amount upto Rs 30 lakhs available.
- Special GST & Banking based assessment policy with limited documents for loan amount upto Rs 50 lakhs available.
Key Features:
* Assistance for purchase of plant & machinery and miscellaneous fixed assets.
* Maximum Funding.
* Financing upto Rs. 15 crore subject to maximum of 75% of the project cost under promoter contribution model.
* Financing for second hand/ refurbished machines also allowed subject to compliance of standard guidelines.
* MCLR Linked attractive rate of Interest.
* Repayment upto 84 months with moratorium upto 12 months.
Eligibility:
* MSMEs having minimum 3 years of operation.
* Cash profit in last 3 financial years.
* No defaults to Bank/FIs.
