To meet your requirement for Capital Expenditure / Working Capital Term Loans, Bank extends loans for extended periods beyond one year, repayable as contracted. Following term loan facilities are available:
Short Term Loan Repayment period upto 3 years
Medium Term Loan Repayment period between 3 to 5 years
Long Term Loan Repayment period exceeding 5 years
Purpose of Term Loan
A term loan is normally required to meet the expenditures of a capital nature.
Business : Financing acquisition of fixed assets, balancing equipments, modernization/ upgradation of existing manufacturing facilities, vehicles, building construction or for setting up a new project.
Professional : Professional/ self employed individuals, Consultancy firms, Doctors etc. for acquiring office equipments (computers, printers etc.), machinery, vehicles, books, medical equipments, vehicles etc.
Road Transport Operator : Financing commercial vehicles.
Individuals : For acquiring homes/ renovating their houses/ flats, purchasing vehicles, consumer durables etc.
Farming : Loans for purchase of tractors, agricultural implements etc. For setting up projects like fisheries, poultry, cattle breeding etc.and crop loans to farmers.
Housing :To Corporates for housing projects, Real estate projects, under group housing schemes etc.
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