Purpose
This product finances the acquisition of assets such as equipment & machinery for production e.g., industrial equipment, agricultural assets, specialized medical equipment, or process plant & machinery.
Key feature
The product is more suited for enterprises with collateral challenges. In general, the Bank uses the asset financed as the main security to enhance other existing collaterals (if any) to boost the available security value.
Duration
Tenure ranges from 4 to 10 years, inclusiveof grace period that ranges from 3 months to 3 years. The tenure and grace periods depend on the asset’s usable life and the implementation schedule respectively.
