The Kolhapur Urban bank has launched a special scheme for Industries to procure loan for purchase of machinery, Industrial plot / building, Instruments, Heavy Vehicles, Stock, Raw material etc.
The applicant must be / become a member of the Bank. He must be a resident of the Bank work demographics and must produce documentary proof for the same. The said industry must with within the geographic operation area of the bank.
Security for Loan:
For the loan the machinery, fixed assets, vehicles etc purchased under this offer or other land, buildings etc, deposit or other viable security in accordance to loan amount must be provided by the applicant. Income proof, security papers, Identification proof, residential proof etc will be required to produce at the time of application. Also Two capable guarantors must be provided by the applicant.
This loan can be repaid in a maximum duration of 7 years, depending upon repaying capacity of the client.
Loan Amount :
A maximum amount of 75 % cost of the total project will be granted, the applicant must be in a position to arrange for the margin 25% of the project cost. The loan amount will be max uptoi Rs. 5,00,00,000/- (5 Crore)
Interest Rate & EMI :
The loan repayment must be done by EMI. The rate of interest will vary as applicable from time to time on the basis of credit ratings of the applicant.