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

Tuf Machinery Loans

Eligibility of borrower * Having  current account  holder of the Bank
* Have good reputation and worthiness.
* Borrower/ Partners/ Directors/ Guarantors must be a  member of  the Bank.    
* Machineries which are to be purchase, must be  covered under TUF scheme   
Purpose of Loan Purchase of Machinery for their own business.
Quantum of finance Up to 85% of the cost of machinery.
Share Linkage Borrower must have Bank share holding @ 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.

Securit Prime:
* Machinery should be hypothecated to the Bank.
* Bank's name plate indicating machinery hypothecated  to the Bank will have to be displayed on machineries /  factory where the machinery has installed   
Collateral:
* 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