MAchinery Loan

Eligibilty:

A Class members & E class associate members having   A) Salaried individual with confirmed service  B) Business having an established Artisan   C) An individual who is an income tax assessee.

Purpose of Loan:

Purchase of new Machines

Limit per Borrower:

Up to 60% of the Machine price. subject to a maximum of Rs.10 Lakhs

Primary Security:

Hypothecation of Machine to be purchased.

Guarantors:   

One guarantor  (having good financial standing)

Repayment Period:     

Minimum 3years , Maximum 6years  (According to sanctioned amount as per slab)

Rate of Interest:

15.00% (With effect from:15-11-2022)

Shareholding:

5% of sanctioned Loan Amount