TERM LOAN
About TERM Loan
The bank provides term loan facility for capital expenditure, acquisition of fixed assets like purchase of machinery/equipment’s, expansion, modernization/technology up-gradation activities etc. These loans are primarily secured by way of first charge on the fixed assets acquired through the loan amount and suitable collateral security.
Type of Loan
- Term Loan
Purpose
- Capital expenditure, acquisition of fixed assets like purchase of machinery / equipment’s, expansion, modernization / technology up- gradation activities etc.
Loan Amount
- Need based– within the bank’s exposure limit.
Margin
- As per Banks policy from time to time.
Repayment
- Maximum up to 7 years.
Who can borrow?
- Firm engaged in trade, commerce & business professionals, Proprietorship, Partnership, Pvt. Ltd. & Public Ltd. Companies
Prime Security
- First charge on the fixed assets acquired through the loan amount
Collateral Security
- If required, on case to case basis.