Loans are generally available for a tenure of 12 months to 84 months or
even more. Tax Benefits: According to the Income Tax Act of 1961.
Worried about the capital needed to purchase the plant & machinery to run the business? The Meenachil Cooperative Bank has different schemes concerning Industrial Loans needed for Industries. Depending on the type of industry and the requirement of the funds needed to buy the equipment and machinery, you can select the scheme suitable for your business needs. The limit you can avail is up to 1 crore.
| Slab | Interest Rate |
|---|---|
| Upto and inclusive of Rs. 50,000/- | 12 % |
| Rs. 50,001/- to Rs. 5,00,000/- | 13 % |
| Rs. 5,00,001/- to Rs. 20,00,000/- | 13.25 % |
| Rs. 20,00,001/- to Rs. 50,00,000/- | 13.5 % |
| Above 50,00,000/- | 14 % |
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