Welcome to The Financial Co-op. Bank Ltd.          

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Call Us: 0261 2360433/34

(Mon – Sat, ex 2nd & 4th Sat)

E-mail Us:


3044-47, Abhishek Market,

Ring Road, Surat-395002

OD Against Machinery Loans

Primary SecurityHypothecation of Machinery.
Effective Rate of Interest  :
8.50% to 9.50%
Processing Charges0.35% on saction amount + GST on PF
Pre-payment ChargesAs per bank policy time to time
Share Money ContributionTo be paid to bank per byelaws/loan policy.
Tenure For RepaymentYearly Review



  • For purchase of new machinery for the purpose of Business.
  • Facility provide on basis of 40% of WDV(Written Down Value) or Valuation report of banks approve valuer – Whichever is less.
  • Collateral security 125% of limit required(Security value/125% = limit amount) 
  • Calculation of limit on drawing power basis. Drawing power 70% of paid stock value & 60% to 75% of 90 Days Book Debts (As per statement submit in every six month).
  • Personal Guarantee of persons residence in surat district, having income / assets expectable to the Bank.

2. Repayment Capacity (Total Annual Income –Total Approx Annual Exp. –

      Total Annual Loan Liabilities (EMI*12) = Total Approx Annual Savings.

      (Approx finance up to 50 to 60 % on Total Approx Annual Savings)

3. Purchase of Residential Property, 80% loan amount of sale deed, satakhat, Construction cost will consider. Additional/ supplementary Finance Rs. 5 lacs  to the owner of house/ flat only for repairs ,additions, alterations etc…. irrespective of whether the house/flat is owner occupied or tenement occupied offer obtaining such security as the banks may deem appropriate. BOD /loan committee have reserve right to consider loan amount.  

4.Maximum Loan Amount & Margin: Individual housing loans up to a maximum of Rs.60 lacs per beneficiary of Dwelling unit. Subject to prudential exposure limits of RBI from time to time.

Period of Loans:

  • Housing loan may be repayable within a maximum period of 20 yrs. Including Moratorium  of repayment holiday.
  •  Processing Fees : –  Processing Fees 0.50 % on Sanction Amount  + GST on PF
  •  Moretorium: Home Loan for construction maximum 18 month and as per guideline of RBI from time to time.
  • Till completion of consturction, or 18 months from the date of disbursement of first installment of the loan which ever is earlier.
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