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    Kapol Bank Term Loan

    With a staff of over 300 people across 15 fully computerized and interconnected branches, the Kapol Cooperative Bank has come a long way from its humble beginnings in 1939. It now serves over two and a half lakh customers, and is one of the first banks in its category to have incorporated NEFT / RTGS facilities in addition to being a pioneer in uplifting the economically weaker sections of the society.

    The bank has a term loan facility that enables the purchase of expensive machinery, and finance the purchase of business-critical assets.

    Purpose of Kapol Bank Term Loan

    The Kapol Bank Term Loan has a primary function of enabling the purchase of vital machinery and assets to develop businesses.

    Eligibility criteria for Kapol Bank Term Loan

    The Kapol Bank Term Loan facility is extended to professionals, entrepreneurs, and self-employed businessmen who have a good credit standing and have no history of defaulting on loans.

    Features and benefits of Kapol Bank Term Loan

    1. Term loan for Asset Finance / ODIP
      • Maximum loan amount that can be secured under this loan is Rs.800.00 lakh.
      • Interest rate is 16.50% p.a.
      • There is a maximum repayment tenure of 60 months, subject to a yearly review.
      • EMI for Rs.1,00,000 is Rs.2,458 for Asset Finance / N.A. for ODIP.
      • Margin: 50% of the market value of the property.
      • This loan is for the purpose of business development.
    2. Term loan for Machinery
      • Maximum loan amount that can be secured under this loan is Rs.800.00 lakh.
      • Interest rate is 14.00% p.a. for loan amounts up to Rs.5,00,000.
      • Interest rate is 15.00% p.a. for loan amounts over Rs.5,00,000.
      • There is a maximum repayment tenure of 60 months.
      • Margin: 25% of the value of proforma invoice / quotation.
      • This loan is for the purpose of purchasing machinery.

    Documents required for Kapol Bank Term Loan

    • Identity Proof: A proof of identity issued by a competent and legitimate government authority. Could be driving license, passport, Aadhaar card, PAN card, etc.
    • Address Proof: A proof of identity issued by a competent and legitimate government authority, or any proof of address that contains the borrower’s name. Could be driving license, passport, telephone / electricity bill (attested), etc.
    • Income Proof: A document confirming the earning of the borrower. Could be bank account statements, etc.
    • The list of other necessary documents will be made available to the applicant at the time of applying for the loan.
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