IDBI offers Asset Credit to corporates seeking to acquire new machinery or equipment. Should have been in operation for a minimum period of 5 years and consistently making profits for the last 3 years - Good track record. Above Rs.5 crore. Based on the Minimum Term Lending Rate fixed from time to time. The actual rate within the prevailing rate band depends upon the creditworthiness of the borrower and the risk perception.
Interest is payable quarterly.
Maximum upto 6 years including moratorium. Deed of hypothecation. Demand promissory note.