| Who can Borrow | 1. Proprietorship Concerns 2. Partnership Firms 3. Hindu Undivided Families (HUF) 4. Private Limited Companies 5. Trusts and Institutions engaged in eligible activities 6. Registered MSME Units |
|---|---|
| Purpose | 1. Machinery / Equipment Term Loan 2. The loan facility shall be sanctioned for 3. Purchase of new machinery 4. Purchase of equipment and tools 5. Installation of plant and machinery 6. Technology upgradation 7. Expansion of production capacity through machinery purchase |
| Max .Finance available | Rs.25.00 Lakh |
| Margin | 90% of Invoice Value or Rs.25,00,000/- whichever is less |
| Security | 20% of Loan Amount or Rs.5,00,000/- whichever is less Machinery Collateral |
| Repayment Period | 60 Months |
| Processing Fees | 0.50 % + GST or as applicable from time to time. |
| Share Linking | 2.5% On Loan Amount + Share Fees Rs.10/- per Share |
| Prerequisites | 1. Application form along with KYC documents & Income Proof. 2. Property to be mortgaged should be in the name of the borrower. Or their Family Members 3. Latest valuation report from bank’s approved valuer. 4. GST, MSME registration. 5. Three Years audited Balance sheet and Profit & Loss A/c (With Auditor Seal & Sign) 6. Three Years IT returns |
| Required Document | 1) KYC documents individuals 2) PAN of Organization 3) Udyam Registration /MSME Certificate 4) GST Registration (where applicable) 5) GST annual and Monthly returns 6) Audited 3 years Financial Statements and 7) IT Returns of Institution and individuals 8) Bank Statements of one year 9) Project Report 10) Quotations for machinery/equipment 11) Property documents and valuation reports ( if any Additional Collateral Security) 12) Licenses and registrations 13) Partnership Deed / HUF Deed 14) MOA & AOA /Certificate of Incorporation/ Board Resolution for Company 15) Rental Agreement (if applicable for rented properties) 16) Machinery Insurance (After loan approval) 17) Any other documents required by the Bank |
| Terms and Conditions are applicable. |