Target

  • Individuals, Proprietorship/Partnership firms/LLP/ Company

Purpose

  • Purchase of Commercial Equipment for the purpose of captive or commercial use

(Note : Second hand equipment are not eligible under the scheme .)

Eligibility

  • Existing Borrower with Min 3 years of experience in business. Account should not be in SMA-1/2 during last 24 months. Min CBR/CMR 700.

Nature of Facility

  • Term Loan repayable in EMI/Non EMI form

Margin

  • Minimum 10%

Security

  • Hypothecation of equipment financed.(Registration of bank’s charge with RTO and in RC book wherever available .

Collateral

  • Minimum CCR of 0.50 or
  • CGTMSE Coverage as per extent guidelines or
  • Minimum FACR of 1.10

(value of equipment can be considered for calculation of FACR)

Tenure

  • Maximum 7 Years

(*including maximum moratorium upto 6 months )

Rate of Interest

  • @ RBLR+0.25%*

(*Terms & Conditions apply)