Office equipment loan is the latest
offering from various banks. Right from furniture, to workstations to
computers, loan can be taken to suit your requirements.
Maximum Loan offered by Banks for Office Equipment Loan:
The
quantum of loan depends on factors like repayment capacity of the
borrower, tenure of loan, policies of the bank, financial background of
the borrower. Loan is sanctioned up to 70% of the actual value of the
office equipment. Repayment is done through Equated Monthly Installments
or EMI. Repayment tenure can range from 1-3 years.
Interest Charged by Bank on Office Equipment Loan:
Interest is
charged either on fixed or floating rate. Interest are also fixed
according to the prevailing market rates.
Process Of Office Equipment Loan Application:
Loan can be
obtained by either filling an online form or directly approaching the
bank. A processing fee is normally charged by banks which is around 2%
of the actual amount of loan.
Documents Required for Office Equipment Loan:
- Proof of Identity (Passport, Ration card, Driving license)
- Proof of Residence
- Proof of Income (Income statement for last two years and bank
statement for the last 6 months)
- Proof of Existence of Business/Office
List of Leading Banks Providing Office Equipment Loan:
