For purchase of construction equipment including Backhoe loaders, Excavators, Wheel loaders, Compactors, Cranes , Skid Steers , Telehandlers etc.

Individuals/Firms/Companies engaged in construction activities.

75% of the Invoice Value subject to maximum of 100 lacs.

25 % of Invoice Value.

Primary: Hypothecation of construction equipment to be purchased.

Collateral: Upto   25.00 lakhs; To be covered under guarantee cover of CGTMSE or against third party guarantee of two persons of sound means based on the option exercised by the borrower.
Above   25.00 lakhs; Mortgage of immovable property of value equal to or at least 50% of the loan amount.

0.50% of the loan amount subject to a maximum of 25000.

3 months from the date of first disbursement.

No prepayment charges.

Less than 15 lacs: Applicable MCLR+3.25% (Floating)

15 lacs and above: As per internal rating.

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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.