Machinery loan

We at Radhakrishna provide two types of loan facilities for oru customers in this type of loan
1)Margin Money Scheme
2)EMI Advance Scheme

Margin Money Scheme

Period Interest Rate Processing Fee
12Months 14% 1%
24Months 15% 1%
36Months 16% 1%
Loan amount: 70% of the invoice value

EMI Advance Scheme

Period Advance EMI Interest Rate Processing Fee
12Months 2 EMI 10% 1%
24Months 3 EMI 12% 1%
36Months 4 EMI 13% 1%

Loan Amount : 100% of the invoice value

List Of Machinery

  • Generators
  • Lift
  • Dental Chairs
  • Scanning Machines
  • Photostat Machines
  • Printing Machines
  • X-Ray Machines
  • Note Counting Machine

  • Cath Lab Machines
  • Centralized A/C System
  • Color Studio Machines
  • Paper Scanner
  • Deep Freezers
  • Welding Machines
  • Industrial Machines
  • Locker

    • Documents Required

  • Application from the Borrower in his own handwriting
  • Proposal for machinery loan
  • Application for machinery loan
  • Particulars of guarantors
  • Proforma Invoice
  • Copy of the latest tax paid receipt
  • Copy of the landed property
  • Bank pass book-Front page with address & 6 months transaction page
  • Pan card of the borrower
  • Pass port size photo of both borrower and guarantors
  • I T return of borrower if available
  • Copy of requisite license, where ever applicable from local authorities -KSEB/Health/Pollution Board/Panchayat/Municipality/Corporation
  • Five cheque leaves, with the all the columns, duly filled as detailed below:-
    • 1st Cheque- For the whole loan amount including interest
    • 2Nd Cheque- For 20% of the loan amount including interest
    • 3rd Cheque- For 30% of the loan amount including interest
    • 4th Cheque- For 30% of the loan amount including interest
    • 5th Cheque- For 20% of the loan amount including interest
  • Demand Promissory Note
  • Agreement for machinery loan
  • Other connected document
    • The Machinery has to be incurred comprehensively for the invoice value till the closure of the loan.