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Location | PAN India |
CIBIL Score | 700+ |
Applicant | Any Self Employed Person |
Loan Amount & Tenure | 10
Lac-100Cr (1 Year to 7 Year) |
Loan to Value(LTV) | Upto 90% |
Type of Funded Equipment | (i) Construction Equipment (ii) Health Care Equipment (iii) Other Equipment |
Rate of Interest & Type | 9% to 14% (Reducing) |
Processing Fees | 0.50% to 2% |
TAT | 7 days |
Foreclosure Charges | Upto 4% |
Applicant Age | 21 Year to 65 Year |
Minimum Business Vintage | 3 Year |
Whether Co-Applicant Mandatory | Yes, If applicant is other than Proprietorship Firm |
Part Payment Allowed | No |
Product | Term Loan |
Whether Collateral Required | No |
Moratorium Allowed | Yes |
Negative Profile | (i) Advocate (ii) Politician |
USP | Unsecured Funding |
Additional | (i)
For Used Equipment Loan ROI will be 10.30% to 16.55% & Tenure would be
maximum 4 year subject to life of equipment (ii) Applicant should be having owned residence or office (iii) Lease Financing not doing |
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Documents required for Kotak Bank Equipment Loan
PAN Card
Aadhaar Card
Driving Licence
Loan repayment track (if any).
Vehicle details
Registered rent agreement
Current Job identity proof
Company ITR documents
Salaried income documents
Last 6 months' bank statement
Eligibility |
Documents Required |
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FREQUENTLY ASKED QUESTIONS
Kotak Bank Equipment Loan is a financial product from Kotak Mahindra Bank designed to assist businesses in purchasing a variety of equipment. This loan category includes Farm Equipment Loan, Construction Equipment Loan, and Commercial Vehicle Loan.
Kotak Bank Equipment Loan offers numerous advantages, including loan amounts ranging from INR 50,000 to INR 50 Crores, flexible loan tenures and repayment options, competitive interest rates and fees, quick approval and disbursal, a high loan-to-value ratio, and a diverse selection of products.
The eligibility criteria and necessary documents for the Kotak Bank Equipment Loan can vary depending on the specific loan type and purpose. Generally, you must be an Indian citizen, possess a good credit score and repayment history, have a business operating for at least 3 years, and provide KYC documents, business proof, financial statements, bank statements, income tax returns, and other relevant documents based on the loan scheme.
Applying for a Kotak Bank Equipment Loan can be done either online or offline. Visit the official Kotak Bank website or a branch, complete the application form with your personal and business details, submit the necessary documents, wait for the verification and approval process, then sign the loan agreement and receive the loan amount in your bank account.
The approval and disbursal of the Kotak Bank Equipment Loan depend on the loan type, amount, your credit profile, and the verification process. Generally, the approval and disbursal process takes approximately 2 to 7 days.