Hire Purchase / Yantrik Loan
Empowering your ambitions with easy financing options!
Purpose:
To assist individuals, farmers, and small businesses in acquiring machinery, vehicles, and other equipment through flexible hire purchase arrangements.
Loan Features:
- Loan Amount: Based on the cost of machinery or equipment and repayment capacity.
- Interest Rate: Competitive and affordable interest rates.
- Repayment Tenure: Up to 5 years (subject to the asset's life and borrower’s profile).
- Margin: Generally 20%-30% of the asset cost (may vary depending on the asset type and borrower profile).
- Security: Hypothecation of the asset/machinery/vehicle financed. Additional collateral may be required.
- Processing Time: Quick approval process with minimal documentation.
- Eligibility:
- Individuals engaged in agriculture or small-scale industries
- Traders and business owners
- Salaried individuals and professionals (on a case-by-case basis)
Benefits:
- Finance available for tractors, harvesters, dairy equipment, industrial machinery, and other tools
- Helps in modernizing business operations and improving productivity
- Structured repayment plan as per your income cycle
- Personalized customer service
