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Industrial Equipment Loans

Banking Solutions for MSMEs

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Unsecured Industrial Equipment Loan

Increase your production and grow your business with collateral free Industrial Equipment Loans designed especially for MSME manufacturers of construction equipment. This product provides loans for business expansion and long term funding against the industrial equipment purchased.

  • Loan amount can be availed for minimum Rs.10 Lakh up to Rs. 5 Crore
  • Loan can be availed for a minimum tenure of 12 months up to 60 months
  • Funding against the industrial equipment purchased
  • Collateral free up to Rs. 3.5 Cr
  • Moratorium up to 6 months available
  • Loans for refurbished equipment and balance transfer is also available
Business Vintage
  • Minimum 3 years in current profession
Business Income
  • Minimum business income of Rs. 3 Lakhs
Age
  • Minimum 21 years at the time of loan application
  • Maximum 65 years at the end of loan tenure
Residence / Office Stability
  • 24 months in same location
  • Either office or residence should be owned. (If office is rented, the unexpired lease period should be for minimum 2 years, and waiver letter from landlord to be taken)
  • Any other property ownership (except land/ under construction/ part consideration) can also be considered but the property should be in the same city
Documents
  • KYC Documents
  • Duly filled in application form signed by the customer
  • Last 3 years ITR, P&L, Balance Sheet
  • Bank account statement of last 6 months
  • PAN Card/Form 60
  • Pro forma invoice/ Quotation of equipment or machinery being purchased
Loan Processing Charges

Up to 1% + applicable taxes

Part Pre-payment Charges

NA

Foreclosure Charges

2.00% of principal outstanding

Penal Interest

2.00% p.a. additional on existing rate of interest

Repayment Instruction / Instrument Return Charges

Rs. 500/- per instance + applicable taxes

Q. Which are the constitutions eligible for Industrial Equipment Loan?

A. We offer Industrial Equipment loan to individuals (SEP & SENP with business registration), proprietorship firms, partnership firms, LLP, pvt. ltd. companies and unlisted public companies.

Q. What is the interest rate for your loan facility?

A. We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on as-sessment of your business profile, past track record, financial records, loan amount required and tenure of loan.

Q. What is the repayment structure of the loan?

A. Repayment shall be in monthly installments, including principal and interest.

Q. What types of industries are covered under this loan type?

A. The focus industries under this loan type includes machine tools, packaging, plastic and printing equipment.

Q. What is the minimum business vintage required under Industrial Equipment loan?

A. Minimum business vintage under this loan type shall be 3 years.