Description:
A comprehensive loan product to finance the purchase of plant and machinery, including new or refurbished equipment, with higher loan limits and extended repayment flexibility.
Key Features:
- Financial assistance for purchasing machinery and fixed assets.
- 100% financing for loans up to ₹50 Crore with 25% security in the form of a fixed deposit.
- Loans up to ₹50 Crore, covering up to 75% of the project cost under a promoter contribution model.
- Financing available for second-hand or refurbished machines, adhering to standard guidelines.
- Competitive interest rates linked to MCLR.
- Repayment tenure of up to 84 months, including a moratorium period of up to 12 months.
Eligibility:
- MSMEs with at least 3 years of operational history.
- Consistent cash profits in the last 3 financial years.
- No history of defaults with banks or financial institutions.