Eligibility of borrower

• Having current account holder of the Bank
• Have good reputation and worthiness.
• Borrower/ Partners/ Directors/ Guarantors must be a member of the Bank.
• Machineries / Instrument / Premises which are to be purchase, must be for business purpose only

Purpose of Loan - Purchase of Machinery / Instrument / Premises for their own business.

Quantum of finance - Up to 90% of the cost of machinery / Instrument / Premises.

Share Linkage - Borrower must have Bank shareholding @ 2.50% of the loan sanction amount

Repayment period - Maximum 84 Months.

Rate of Interest - 8.00% p. a.

Security

Prime

• Machinery / Instrument / Premises should be hypothecated to the Bank.
• Bank's name plate indicating machinery etc. hypothecated to the Bank will have to be displayed on machineries etc. / Premises where the machinery etc. has installed

Collateral

• Third party guarantee of two personal guarantors having good worthiness and financially sound and member of the Bank.
• Simple mortgage of title cleared property of the borrower/guarantors

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