| Limit per Borrower : |
As per RBI Guide line Expouser limit for single borrower & group borrower. |
| Margin Money : |
15% of Proforma Invoice. |
| Monetorium Period: |
- 3 or 6 month monetorium period
(B.O.D. reserves right to change according to the repayment capacity of applicant). |
| Rate of Interest : |
Machinery Loan Tuf & Non Tuf
- For New Machinery Loan : 9.50 %
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| Click Here For Interest Rates |
| Guarantors : |
One guaranters (who holds property) |
| Collateral Security : |
Immovable Property 110% of Loan Amount. |
| ( FD / NSC / KVP / LIC Policy etc.) |
90% of Loan Amount |
| Eligibility of borrower : |
- Having operative current account holder of the Bank.
- Have good reputation and Credit worthiness.
- Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
|
| Purpose of Loan : |
Purchase of Machinery for their own business. |
| Quantum of finance : |
Up to 80% of the cost of machinery. |
| Share Linkage : |
As per bank rules |
| Repayment period : |
Maximum 120 months. |
| Rate of Interest : |
9.50% P.A. |
| Security : |
Prime :
- Machinery should be hypothecated to the Bank.
- Bank's name plate indicating machinery hypothecated to the Bank will have to be displayed on factory where the machinery has been installed
Collateral :
- Third party guarantee of one personal guarantors having Own Property & having good worthiness and financially sound and member of the Bank.
- Registered mortgage of title cleared property of the borrower/guarantors.
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