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HYPOTHECATION OF MACHINERY
HYPOTHECATION OF MACHINERY
Purchase of Old or New Machinery by Individual Person, Partnership firm & Company
FEATURES & BENEFITS
FEATURES & BENEFITS
Financial Assistance on basis of Business or Professional income.
Low cost, No Prepayment charges.
Guarantee based loan.
Repayment through Daily/Cheque/ECS.
Loan Limit 50% of Machinery Value (Additional 200 % Mortgaged Property Value security required) or Rs. 20 Lakh whichever is less.
Repayment period Upto 84 Months.
ELIGIBILITY
ELIGIBILITY
Applicant having/ ready to have membership & ITR & Business Proof.
Applicant should have adequate income available for instalment.
REQUIRED DOCUMENTS
REQUIRED DOCUMENTS
Residential/ ID / Income Proofs – ITR/Business Proof/Photos of Borrower & 2 Guarantors.
Bank Statement.
Machinery Quotation & booking receipt by vendor.
Property Papers with proper building permissions having legal title.
Note : Terms and conditions apply.
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