Machinery Loan
Our Machinery Loan is designed to support business persons, traders and self-employed individuals in purchasing machinery, equipment and tools required for their business activities. This loan helps customers improve productivity, expand their business operations and meet industrial or commercial needs. The bank offers simple documentation, quick processing and flexible repayment options to make business development easier.
Purpose
For purchase of machinery, equipment, tools and other items required for business, trade or industrial activities.
Eligibility
Business persons, traders and self-employed individuals having regular income acceptable to the bank.
Loan Amount
Loan amount will be sanctioned based on the cost of machinery and repayment capacity as per bank rules.
Maximum Period
Repayment period will be fixed by the bank depending on the type of machinery and loan scheme.
Security
Machinery purchased will be hypothecated to the bank or other security acceptable to the bank shall be provided.
Interest Rate
12.00% per annum
Note: “The sanctioned loan amount and interest rate are subject to terms and conditions.”
