Machinary Loan

Small & Medium Enterprises (SME) which are operating manufacturing units, can increase focus on growing and expanding their businesses, by availing our Machinery Loans for purchase of new or refurbished machinery from manufacturers and/ or authorized dealers/ sellers.

Eligibility

  • Individual/ H.U.F., Proprietorship/Partnership firm/Company/LLP

Limit

  • Maximum 7 Crore

Tenure

  • Maximum 5 years
  • Amount of loan can be up to 75% distress sale value of the property/ as per the requirement

Documents required

  • ID and Address Proof
  • PAN Card
  • Quotation/Purchase
  • Agreement/Construction Estimate
  • Security for Loan
  • Existing Track Record
  • Balance sheet and other supporting financials
  • Proof of Income/Self-assessment from borrower
  • Valuation Report
  • Non-encumbrance and Title Report
  • Area should be approved by a competent authority
  • Copy of property insurance with Banker’s clause

Collateral Security

  • 50% to 60% of Loan Amount.

Guarantor

  • Two guarantors (who holds property and share holder of SKNSBL)

*All loans are applicable to actual bank charges which include valuation, legal and all actual bank charges

To know more visit your nearest branch.