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Technology plays a huge role in ensuring that your business grows. In order to see your businesses, expand and help you make profits; you will need the latest machineries which would ensure that you are able to build your business the way you want to. Hence, you can avail a machinery loan which allows you to either purchase new machineries or upgrade your existing machineries. You can avail a machinery loan at attractive rates of interest and flexible repayment tenure from a suitable lender in India.
You can apply for a machinery loan from various lenders and Non-Banking Finance Corporation (NBFC) both online and offline.
Online
You can visit the official website of a lender or NBFC which offers machinery loan to its customers. You can click on the ‘Apply Now’ button. You will have to create a profile and upload all the necessary documents. The lender will verify all the documents submitted by you and if they are found to be correct, the lender will disburse the amount to your bank account.
Offline
You can visit the nearest branch of the lender or NBFC which offers machinery loan along with the required documents. A representative from the bank will get in touch with you and will help you with the process of applying for a machinery loan.
A GST rate of 18% will be applicable on banking services and products from 01 July, 2017.
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