Machinery Loan:

• Machinery term loan is available for purchase of old/new machinery. Trading / Manufacturing units, Traders , Business community can avail credit facility for development of business

Applicant details :

• Applicant’s last two years Income tax Return /last years balance sheet and profit & loss account of firm/company
• Last tax bill / certificate from society chairman/Secretary if applicant own property
• Applicant should have Savings/ current Bank account with the bank.
• Bank Statement.
• Applicant has to show all original documents to the bank for verification with zerox copy. Original documents will be returned to applicant after verification.
• 3 Photographs of Applicant
• Address proof – electric bill /telephone bill- land line /Aadhar card (any one) As per KYC norms.
• Photo proof – Pan card / Voter card / Driving license (Any one) As per KYC norms

Guarantor Details:

• Photograph-2 copies
• Last tax bill
• Last income tax return copy /Pay Slip
• Address proof – electric bill /telephone bill- land line (any one)
• Photo proof – Pan card / Voter card / Driving license/Aadhar card (Any one)

Conditions:

• Two guarantors are required.
• Bank will sanction loan 80% of quotation amount for new machinery. Applicant has to deposit margin money with bank. Bank will issue banker cheque to dealer.
• Loan will be repaid with interest within 60 equal monthly instalments.
• Applicant has to submit 60 cheques for repayment of instalments and remaining cheques as per bank's instruction
• Applicant has to take share of bank @ 2.5% of the limit.