Assets Finance Loans
This is a facility to finace asset acquisition . The client should meet the below conditions of sanctions:
- Pro-forma invoice to be availed from the vendor.
- Collateral based loans with a 50% margin in value.
- All motor vehicles must be comprehensively insured.
- Abiity to pay must be demonstrated bythe cash flows of the borrower.
- Valuation must be dome and the motor vehicle fitted with tracking device.
- The age of the motor vehicle fishould not be more than 15 years of age.
- The interest rate is 6% p.m and 8% p.m for repeat borrowers and fisrt time borrowers resoectively.
- The repayment period shold not exceed twelve (12) months.
- The disbursement is done to the vendor directly.
- Finane 70% of forced value.