Equipment / Machine Loan provides loans to manufacturer ,doctors etc .it is given to customers who are in need for purchase of equipments. Customer can avail equipment loan to start up a new unit .Equipment / Machine Loan provides you to meet the new requirements you face in your trade .Equipment / Machine Loan can help the customer to overcome the new challenges or orders he faces. Equipments Finance helps you to upgrade the technology and increase the profitability of your organization. With the help of Equipment / Machine Loan you can avail the latest equipments and meet your requirements.
|Documents||Self Employed Properitorship Firm||Self Employed Partnership Firm||Self Employed Pvt Ltd / Ltd|
|Application Form With Photograph Duly Signed|
|Clear Pancard Copy, (Applicant & Co-Applicant)|
|Latest Residence proof (Applicant & Co-Applicant)|
|Latest Office Proof (Applicant & Co-Applicant)|
|Last 12 Months Bank Statements|
|Income Tax Returns Of Last 3 Yrs|
|Last 3 Years CA Certified / Audited Balance Sheet And Profit & Loss Account|
|All Loan Sanction Letter If Any|
|Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , )|
|Company Pancard Clear Copy|
|Shareholding Pattern On Letterhead|
|Invoice copies of equipments to be purchased|
The general factors taken into account while determining the eligibility of loan against property are listed below:
1. Age (Min. 21 Year )
2. Maximum 58 age at time of closure of the loan for the salaried
3. Maximum 65 age at time of closure of the loan for the self employed
4. Total work / business Experience 3 yrs5. Indian resident
Manufacturers ,Printers & Doctors who are
• Self Employed Individuals
• Partnership Firms
• Private Limited Companies
4. Equipment Valuation
5. Personal discussion
6. Sanctioning of the Loan
The Process may vary from bank to bank in which they will do your verification of documents, residence, office, and a cibil check
You can repay your loan over a period of 12 to 60 months
1. Application form with photograph
2. Identity and Address Proof
3. Proof of business existence & Education Qualifications.
4. Last 3 years ITR
5. Last 3 years P&L and Balance Sheet
6. Bank Statements (Last 12months)
7. Processing fee cheque
8.Invoice copies of the eqipment
Please refer the complete list of documents on our website in the document section of Equipment / Machine Loan
The loan will be processed within 10 working days provided everything is in order.
You have the flexibility of opting for Equated Instalment, (depending on the requirements of your business). PDCs, ECS mandate and Electronic Transfers are all accepted means of payment.
Yes, you can prepay the loan. Foreclosure charges at 2% shall be applicable on the principal outstanding.
The processing of the loans usually takes approx 15 working days after all the documents are submitted.