Heavy Equipment Loan (Earth moving heavy equipment)
12.00%
Power Your Projects – 50% Financing for Heavy Equipment & Machinery!
Purpose: Purchase of heavy equipment vehicles and machinery
Eligibility
- Individuals/ firms involved in hiring and construction business.
Quantum
- 50% of the total cost
Tenure
- Maximum term of 5 years.
Documents Required
- Loan application form duly filled and signed on all the page
- Guarantor form duly filled and signed on all the page, if applicable
- Copy of CID of the applicant and guarantor (if applicable).
- Recent passport size photographs of the applicant and guarantor (if applicable).
- Copy of valid trade license.
- Original Quotation/invoice for new machineries from authorized vehicle dealers.
- Copy of ownership certificates of collateral security offered to bank.
- Letter of Consent for extension of charges duly signed by the property owner (if applicable).
- Proof of income to service the loan – verified income by way of rental receipts, BIT, etc.
- Individuals/ firms involved in hiring and construction business.
- 50% of the total cost
- Maximum term of 5 years.
- Loan application form duly filled and signed on all the page
- Guarantor form duly filled and signed on all the page, if applicable
- Copy of CID of the applicant and guarantor (if applicable).
- Recent passport size photographs of the applicant and guarantor (if applicable).
- Copy of valid trade license.
- Original Quotation/invoice for new machineries from authorized vehicle dealers.
- Copy of ownership certificates of collateral security offered to bank.
- Letter of Consent for extension of charges duly signed by the property owner (if applicable).
- Proof of income to service the loan – verified income by way of rental receipts, BIT, etc.
