Overview
The bank supports industrialists and small entrepreneurs setting up plant and machinery, equipment, and other movables such as furniture, fixtures, and office equipment.
Eligibility
Individuals, professionals, self-employed persons, businessmen and industrialists — including proprietary concerns, partnership firms, and joint stock companies.
Income
Sufficient to comfortably repay the loan within the agreed period.
Loan Amount
Covers the invoice cost for new plant/machinery/movables, or the agreement/market value (whichever is lower) for second-hand ones, after the applicable margin.
Security
Hypothecation of the plant, machinery, or movables being purchased.
Guarantee
One or two solvent third-party guarantors.
Period of Loan
Up to 60 months for new plant/machinery, or 3 years for second-hand — repaid in EMIs.