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)
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