To Provide hassle free and timely finance for purchase of FRESH construction equipment’s including

  • Backhoe loaders
  • Excavators/ Diggers/JCBs
  • Tippers/Dumpers
  • Transit Mixers
  • Wheel loaders
  • Compactors
  • Cranes (Pick N Carry, Heavy Duty, Tower & Derrick)
  • Skid Steers
  • Telehandlers
  •  Drillers
  •  Dozers
  •  Graders
  • Heavy DG Sets and

All other necessary equipment’s involved in construction, mining etc.

    • Individuals, Proprietary concerns, Partnership firms, Companies (Private & Public), Trusts (Private Trusts), Limited Liability Partnerships.
    • Plant Hirers, Contractors and Mine Owners.

Rs 100.00 lakhs per borrower for financing more than one construction equipment subject to:

    • 85% of the Invoice Value for existing Borrowers having satisfactory dealings with the Bank for the last 03 years  & having existing business exposure of at least 1.5 times of the requested loan amount & who have to use the said construction equipment for their own use in the self-allotted contracts.
    • 75% of the Invoice Value for all others

    • Existing Borrowers ( as specified above)  :                  15 %
    • For Others:                                                       25% for invoice value

Primary: Hypothecation of construction equipment to be purchased.
Collateral:

  • Upto   10.00 lakhs:To be covered under CGTMSE Cover
  • Above10.00 lakhs Upto  25.00 lakhs:
    • Above Rs 10 lacs & Up to 25.00 lakhs : To be covered under CGTMSE Cover or
      Against 3rd party guarantee of 2 persons. or Mortgage of immovable property with Forced Sale value/ residual forced sale value (in case of properties already mortgaged to our bank) of more than 50% of the loan amount.
    • Above    25.00 lakhs; To be covered under guarantee cover of CGTMSE or Mortgage of immovable property of value equal to or at least 50% of the loan amount.

0.50%+ GST (upfront).

Maximum Period : 63 Months inclusive of maximum moratorium period of 3 months.

Note : Age in case of individual borrowers and proprietors of proprietorship concerns at maturity of the loan should not exceed 70 years.

    • Upto 15.00 lakhs:          RLLR+ 2.50% with monthly rests(Floating)
    • Above 15.00 lakhs:       Risk based interest rate linked to MCLR for loans and advances under SME sector.

    Click here for rate of Interest

The equipment financed shall be insured with comprehensive insurance cover and usual bank clause at the costs and expenses of the borrower. The insurance policy shall be renewed at yearly intervals till final adjustment of the loan.

The borrower may be sanctioned Credit card at the time of sanction of loan facility with the maximum limit of Rs.1, 00,000 for purchase of fuel etc.

Top up loans for change of tyres and other maintenance works may be sanctioned in favour of borrowers with maximum limit of 10% of the Loan amount or 90% of cost of tyres & maintenance charges whichever is lower, after 18 months from the disbursement date*.