Toll Free Number :1800 258 7750 (Available during banking hours - 10:00am to 06:00pm)

Reg. No: SA 2914 Dated : 27 Jan. 1995
License No: UBD Guj-1153 P Dated : 01 July 1995

Machinery Loans

Eligibility of borrower * Having  current account  holder of the Bank
* Have good reputation and Credit worthiness.
* Borrower/ Partners/ Directors/ Guarantors must be a  member of  the Bank.    
Purpose of Loan          Purchase of Machinery for their own business.
Quantum of finance      Up to 80% of the cost of machinery.
Share Linkage           Borrower must have Bank share Linkage @ 1% of the loan sanction  amount.
Repayment period Maximum 120 Months.
Rate of Interest     

Up to Rs. 1 Crore 10.75%  p. a.

Above Rs. 1 Crore 10.25% p. a.

Security Prime:
* Machinery should be hypothecated to the Bank.
* Bank's name plate indicating machinery hypothecated  to the  
  Bank will have to be displayed on factory where   the machinery
has been installed   
* Third party guarantee of two personal guarantors  having good  
  worthiness and  financially sound and   member of the Bank.
* Simple mortgage of title cleared property of the borrower/    guarantors.

 Machinary Loan