Machinery Loan

Limit per Borrower : As per RBI Guide line Expouser limit for single borrower & group borrower.
Margin Money : 20% of Proforma Invoice.
No. of EMIs :
  • 60 (General)
  • 3 or 6 month monetorium period
(B.O.D. reserves right to change according to repayment capacity of applicant).
Rate of Interest :

Machinery Loan Tuf & Non Tuf

  • For New Machinery Loan : 11.50 %
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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 : Borrower must have Bank 1 share 5% Bank FD of the loan sanction  amount.
Repayment period : Maximum 60 months.
Rate of Interest : 12.00%  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.