3300 Crores

Industrial Loan

Industrial loan is provided only for the industrial growth purpose to a firm or company. This type of loan shall be considered for SSI, other manufacturing and processing industrial unit to meet their need for establishment of new unit, purchase of plant and machinery. Loans can be considered against the hypothecation of plant and machinery and finished/semi-finished goods. Society considers the loan up to the 75% of the value of plant and machinery and stock. Wherever possible, land and building owned by the applicant/borrower shall be taken as collateral security by way of mortgage.

Eligibility :

  • Member of the Society.
  • Either single account or joint account with other family members’ viz., father, mother, wife, son or daughter with regular source of income.
  • Individuals who may be employed/self-employed in business having regular income. Permanent employee of Central/State/Defense/Police Force/Public or Joint Sector Undertaking/reputed firms/established Educational Inst/Professional/Businessmen having regular income.



  • Provided only for the industrial growth purpose
  • To meet their need for establishment of new unit


Quantum of Finance

  • As per eligibility


Repayment Details

  • By EMI or Regular
  • The maximum repayment period should not exceed 15 years


Rate of Interest

  • 17% Reducing Balance


Processing Charges & Service Tax

  • 0.70 %  Processing Fees and other charges (Inclusive) PLUS Service Tax as applicable.


Other Attractive Features

  • No prepayment penalty
  • Insurance facility against Personal Accident (Death)
  • Flexible repayment schedule
  • Interest on a daily reducing balance basis.


Criteria for loan sanctioning

  • Photo Identity Proof:

         - Pass port

         - PAN card

         - Voters Identity Card

         - Driving License

  • Residence Proof:

         - Telephone Bill

         - Letter from any recognized Public Authority

         - Electricity Bill

         - Ration Card\letter from employer subject to satisfaction on Bank

         - Property Tax Book/Receipt

         - Registered Lease Deed

  • Application on prescribed form.
  • Two photographs of borrower and guarantors.
  • Address proof of the borrower and guarantor.
  • Income proof of the borrower such as income Tax Return balance sheet of the firm.
  • Profile of guarantor.
  • Valuation report of existing unit.
  • Quotations of machinery to be financed.
  • Valuation of land and building.
  • Lawyers report about title and marketability and mortgage.
  • Copy of license/permission.
  • Mortgage of land and Industrial shed.
  • Stamped receipt, invoice etc. and shall be obtained from the dealer of plant and machinery.
  • Insurance cover should be obtained for entire plant and machinery and Industrial shed.
  • Constitution of the organization.
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