Machinery Loan

Limit per Borrower :	As per RBI Guide line Expouser limit for single borrower & group borrower.
Margin Money :	15% of Proforma Invoice.
Monetorium Period:	3 or 6 month monetorium period (B.O.D. reserves right to change according to the repayment capacity of applicant).
Rate of Interest :	Machinery Loan Tuf & Non Tuf For New Machinery Loan : 9.50 %
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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 :	As per bank rules
Repayment period :	Maximum 120 months.
Rate of Interest :	9.50% 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.