| Eligibility |
Any activity defined under MSME |
| Purpose |
Purchase of machinery for activity under MSME |
| Plant & Machinery (New Unit) |
Rate of Interest
- 700 and above - 11.50%
- 600 to 699- 12.00%
- (-1) - 11.50%
|
| Plant & Machinery (Purchase/Takeover of Old Unit) |
Rate of Interest
-
600 and above
Upto Rs 50 Lakhs -11.50%
Above Rs 50 Lakhs - 11.25%
|
| Margin |
1) For new Machinery:- At least 25% of the Invoice/Quotation value
2) For used Machinery:- 50% of valuation provided by the Panel
Engineer/Valuer of the Bank
|
| Repayment Tenure |
Upto of 7 years |
| Security |
New machinery
Any tangibel asset property belonging to the applicant situated within the jurisdiction of the Bank. In case of direct finance, it should be situated within the territorial jurisdiction of the Branch from where the loan is availed. |
| Other Terms |
Membership is necessary for the borrower and sureties to avail this loan. |
| Agriculture & allied activities |
|
| |
Rate of Interest
- Boat Loans - 11.50%
- Poultry/ Piggery/ Diary & other allied activities - 10.00%
- Commercial Crop Loans - 10.00%
|
