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- SME Banking
- Business Expansion
- Business Equipment Loan
Business Equipment Loan
Business Equipment Loans (BEL), an asset backed finance product to tap the opportunity provided by the construction, medical and printing equipment industry.
The BEL product is useful for proprietors, partnership firms, private limited companies and professionals.
Special features
- Easy to apply
- Higher loan amount upto Rs. 88 M*
- Loan tenor upto 84 months*
- A dedicated Relationship Manager to cater to your business needs
*Conditions apply
FAQS
Who is eligible?
- Construction Equipment: Customers who are involved in road building, civil construction, earthmoving and/ or material handling activities. Medical Equipment: Diagnostic centers & individual doctors.
- Printing Equipment: Printing houses engaged in contractual printing jobs or turnkey printing solutions including artwork and graphic are eligible for the facility.
Which entities are eligible for Term Loans?
- Sole proprietors/proprietorship firms
- Partnership firms
- Pvt. Ltd. Companies (including closely held limited companies )
- Professionals – doctors
What is the minimum and maximum annual turnover eligibility?
- Min. turnover - Rs. 4.4M
- Max. turnover – Rs. 1,100M
What is the maximum loan amount offered?
- Maximum Loan amount is upto Rs. 88M depending on the financial eligibility conditions being met.*
What is the minimum and maximum tenure of the loan?
- The loan tenure is upto 84 months depending on the financial eligibility conditions being met.*
What is the LTV (Loan-to-Value) offered?
- Maximum Loan to Value (LTV) offered is upto 90% depending on the financial eligibility conditions being met.*
What is the interest rate charged on BEL?
- We offer attractive interest rates on the facility depending on loan amount, credit assessment and other parameters. Specific details would be provided by the Relationship Manager.
What are the basic documents required for applying for the facility?
- Bank statements for last 6 months
- Last 3 year financials including Profit and Loss (P&L) Statement, Balance sheet and Income Tax returns.
- Contract/order book copies
- Existing asset details & specifications
- Documents related to establishment of entity, identity and address proof documents.
- Specific details would be provided by the Relationship Manager.
What are the pre-closure charges on BEL?
- Pre-closure charges– 3% of the outstanding at the time of closure (service charges & taxes extra)
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