Star Equipment Express

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)