To run business hassle free from power cuts through the TMB Genset loans for owning new Generator
Eligibility and Terms
Individuals, Proprietorship, Partnership, Company, Trust, Society, etc., already engaged in the activity
Interest and Fees
Click here to know about MCLR based interest rates.
Key Features
Quick & hassle free processing
Competitive interest rate with longer loan tenure
Features and Benefits
Credit facilities to operate the / run the unit / organization hassle free from power cuts through the TMB Genset loans for owning new Generator.
Term Loan
Eligibility and Terms
Individuals, Proprietorship, Partnership, Company, Limited Liability Partnership, Trust, Society, etc., already engaged in the activity (Traders/Manufacturers/Service).
New activity – Not eligible under this scheme.
Margin
25% of Generator + erection & electrical installation charges.
New borrowers already engaged in the activity (Traders/Manufacturers/ Service) are also eligible subject to obtention of satisfactory credit opinion from their existing bankers. If, they are enjoying credit limits with other banks, satisfactory credit opinion and NOC should be obtained from their existing bankers.
Repayment
Term loan – Maximum of 5 years
Security
Hypothecation of the generator & other accessories financed.
For Existing Borrowers:
Existing securities and guarantees if any, offered for the existing credit facilities should be extended for this loan.
For New Borrowers –
Self-owned (including properties in the name of family members) land/ house plot / building properties valued not less than 100% of the limit.
