Machinery loan is a financial assistance taken to purchase a car with minimal initial payment from your own pocket. The borrowed money from the lender can be repaid in equal monthly instalments over a period of time with an agreed rate of interest. Normally, car loans are secured with the vehicle itself that is being bought.
Documents Required for Machinery loan:
3 PHOTO
PAN CARD
AADHAR CARD
ELECTRICITY BILL LATEST
6 MONTHS BANK STATEMENT UP TO DATE
2 YEARS ITR LATEST
PERVIOUS LOAN DETAILS IF ANY
IF RENTED REQUIRED RENT AGREEMENT AND PERMANENT ADDRESS PROOF
