Hypothecation Loan

Machinery/equipment term loan is available for purchase of old/new machinery. Trading / Manufacturing units, Traders, Business community can avail credit facility for development of business.

Applicant details :

Guarantor Details :

  • 5 Photographs of Applicant
  • Applicant Must be Member of Regular Member/Nominal Member
  • Photo Proof – Driving License/Election Card/Passport/Aadhaar Card
  • Copy of PAN Card
  • Address Proof – Electric Bill/Telephone Bill (Last 3 Months Old)
  • Applicant I.T. Return (Last 3 Years)/Salary Slip of Last 6 Months/Form-16.
  • Latest Tax bill /Certificate from society chairman/Secretary if applicant owned Property.
  • Applicant has to show all original documents to the bank for verification with zerox copy.

  • Photograph-3 copies
  • Guarantor must be Member of Regular Member/Nominal Member
  • Photo Proof – Driving License/Election Card/Passport/Aadhaar Card
  • Address proof – electric bill /telephone bill (any one)
  • Copy of PAN Card
  • Latest Tax bill /Certificate from society chairman/Secretary if applicant owned Property.

Conditions

  • Bank will give loan up to 80 to 85% of quotation
  • Machinery Loan repayment in monthly EMI.
  • Interest will be debited on monthly basis.
  • Applicant has to take insurance of full value of Machinery in favour of bank.
  • Applicant have to pay margin amount to the bank.Bank will issue Banker cheque of full amount in the name of dealer.