Charan Machineries & Equipment Loan – CMEL

Eligible category of borrowers

  • Regular members of our bank only

Line of activity

  • Persons engaged in business / Self Employee having good turnover / income

Quantum of loan

  • As mentioned in Interest chart


  • Monthly Installments + Interest

Rate of Interest

  • As mentioned in Interest chart (Subject to changes / revision from time to time)


  • To meet urgent needs of business or as the case may be.


  • Hypothecation of machineries and Equipments and collateral security of Simple Mortgage of landed property having legally valid and marketable title with good value.


  • As applicable


  • 2 sureties who are necessarily to be regular members of the bank.

Other charges

  • As applicable

Documents Required

  • Period of Loan upto 120 months.
  • Specified loan application.
  • Guarantor’s declaration form.
  • Address and income proof of both borrower & sureties.
  • IT Assessment orders (3 years) / Audited Financial statements.
  • All original property documents.
  • Valid legal opinion / valuation report on the property along with Insurance
  • Required margin as the case may be
  • Any other letter/document related to the activity/purpose as the case may be.
  • Other terms & conditions as applicable.

For more details / clarification please contact your nearest branch.

Charan Machineries & Equipment Loan – CMEL – 120 Months
Amount ROI
Upto Rs. 5.00 Lacs 11.00 %
>Rs. 5.00 Lacs to Rs. 10.00 Lacs 12.00%
>Rs. 10.00 Lacs to Rs. 20.00 Lacs 12.50 %
>Rs. 20.00 Lacs to Rs. 25.00 Lacs 13.00 %