Union Equipment Finance
Union Bank of India loans of ₹10 lakh to ₹50 crore to buy industrial vehicles, machinery and heavy equipment, open to existing customers, contractors and other established businesses.
Last updated on
- Status
- Open
- Run by
- Union Bank of India
What you get
- ₹10 lakh to ₹50 crore
- No collateral. The equipment bought is hypothecated to the bank
- Margin of 5% to 10%
Who can apply
- Businesses that are already running.
- The most on offer is ₹50 crore.
- At least 2 years in business, making a profit, and not in loan arrears on the sanction date
- Existing Union Bank borrowers with working capital or term loan limits qualify
- New customers, including contractors, need an external credit rating of BBB or above
- New MSME customers without that rating can borrow up to ₹10 crore with 2 years of profits, no loan arrears in the last 2 years and promoter credit scores of 700 or more
How to apply
- Use Apply Now on the page, or call the toll-free number 1800 2333
In person, nearest Union Bank of India branch
In Kerala, any Union Bank of India branch in Kerala, or the online Apply Now link
Where we found this
An independent guide by The Company of Four, not a government website. Schemes change often, so check every detail on the official website before you apply. Links marked ↗ open external websites that we do not run, and we are not responsible for their content. Seen something out of date? Tell us and we will look into it.