There is no compelling reason to look around any longer for loan choices to buy Commercial/Construction equipment, Earth Moving, Material taking care of Equipment, Term loans, Working Capital prerequisites, Bank Gurantee or LC, that your business may require. Pick LoanKorner.com Commercial/Construction Equipment Loan service and you will get the best terms and interest rate.
You may get loan facility for your required equipment from any of your favored makers including JCB, Telcon, L&T Komatsu, Caterpillar, Volvo, Escorts, Case, Schwing Stetter, Hyundai, Terex, Ace, Liugong, Greaves, Sany, Putzmeister, Atlas Copco, Apollo and some more.
New/Used Commercial/Construction Equipment Loans
Working Capital Finance – CC and OD offices
Bill Discounting/LC marking down
Stock Funding/Trade advance/CC/OD for Dealers
Installment Solution, Cash Management Services and Forex Solutions, and so forth.
The Machinery Loan is available for following commercial / Construction Equipments:
Documentation for Machinery Loan:
You need to submit the below list of documents for Machinery Loan Approval.
- KYC Document
- Bank Statement
- residensial proof
- Track record- if applicable
- Other docs as per requirements
Benefits of Machinery Loan:
You can avail of the following benefits on our Machinery Loan
- Up to 100% financing of Machinery Loan*
- Attractive interest rates*
- Up to 60 month tenure for loan*
- Simpler documentation and quick processing
- Reduced down payments
- Customized EMI structure to suit your business needs
Fees & Charges for Machinery Loan?
|Description of charges||Commercial/Construction Equipment Finance|
|Cheque bouncing charges||Rs. 550|
|FC Charges||*4 % of Principal Outstanding for preclosures within 1 year from 1st EMI & 2% of Principal Outstanding for preclosures after 1 year from 1st EMI|
|Stamp Duty||At actual|
|Late Payment Penalty||2% per month on unpaid EMI|
|Processing fees||New Loans: upto 1% of the Loan Amount
Used Loan: upto 1.5% of the Loan Amount
|Asset verification charges||At Actual|
|Loan Cancellation charges||NIL Charges, Only Interest to be taken from date of disbursement to date of cancellation.
applicable from 1st May 2007.
|Legal/Collection/Repossession and Incidental charges||At Actual|
|Service/Documentation charges||upto 1.5% of the Loan amount|
|Issuance of Duplicate NOC and Special NOC Charges||Rs 500/- wil be charged for Physical copy|
|Cheque Swap Charges||Rs.500/-|
|Repayment Schedule Charges||Rs. 200/-|
|Product Group||Bank IRR||APR|
|Commercial Machinery Loan||9.31%||16.01%||11.20%||9.31%||16.22%||11.22%|