[et_pb_section fb_built=”1″ admin_label=”Hero” _builder_version=”4.17.3″ use_background_color_gradient=”on” background_color_gradient_stops=”rgba(9,31,77,0.28) 0%|rgba(234,50,54,0.39) 100%” background_color_gradient_overlays_image=”on” background_color_gradient_start=”rgba(9,31,77,0.28)” background_color_gradient_end=”rgba(234,50,54,0.39)” background_image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2023\/01\/Vachan-Clients-300-\u00d7-300-px-4.jpg” custom_padding=”|0px|120px|0px|false|false” bottom_divider_style=”asymmetric3″ bottom_divider_color=”#ffffff” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.16″ global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.17.3″ text_font=”||||||||” text_text_color=”#FFFFFF” text_font_size=”16px” text_line_height=”2em” header_font=”||||||||” header_font_size=”40px” header_line_height=”1.4em” background_layout=”dark” max_width=”600px” custom_margin=”||30px|” custom_margin_last_edited=”off|desktop” header_font_size_tablet=”30px” header_font_size_phone=”24px” header_font_size_last_edited=”on|desktop” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][et_pb_button button_url=”#loan-details” button_text=”view services” _builder_version=”4.16″ custom_button=”on” button_text_size=”14px” button_text_color=”#ffffff” button_bg_color=”#003bde” button_border_width=”0px” button_border_radius=”4px” button_letter_spacing=”1px” button_font=”|||on|||||” background_layout=”dark” custom_margin=”|||” custom_padding=”16px|40px|16px|40px|true|true” button_border_radius_hover=”4px” button_letter_spacing_hover=”1px” button_bg_color_hover=”#0053ef” global_colors_info=”{}” button_text_size__hover_enabled=”off” button_one_text_size__hover_enabled=”off” button_two_text_size__hover_enabled=”off” button_text_color__hover_enabled=”off” button_one_text_color__hover_enabled=”off” button_two_text_color__hover_enabled=”off” button_border_width__hover_enabled=”off” button_one_border_width__hover_enabled=”off” button_two_border_width__hover_enabled=”off” button_border_color__hover_enabled=”off” button_one_border_color__hover_enabled=”off” button_two_border_color__hover_enabled=”off” button_border_radius__hover_enabled=”on” button_border_radius__hover=”4px” button_one_border_radius__hover_enabled=”off” button_two_border_radius__hover_enabled=”off” button_letter_spacing__hover_enabled=”on” button_letter_spacing__hover=”1px” button_one_letter_spacing__hover_enabled=”off” button_two_letter_spacing__hover_enabled=”off” button_bg_color__hover_enabled=”on” button_bg_color__hover=”#0053ef” button_one_bg_color__hover_enabled=”off” button_two_bg_color__hover_enabled=”off”][\/et_pb_button][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.16″ _module_preset=”default” custom_padding=”||10px||false|false” da_disable_devices=”off|off|off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/suco.bank.in\/wp-content\/uploads\/2023\/01\/Vachan-Clients-300-\u00d7-300-px-5.jpg” title_text=”Vachan Clients (300 \u00d7 300 px) (5)” _builder_version=”4.17.3″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.16″ _module_preset=”default” custom_css_main_element=”margin:auto;” global_colors_info=”{}”][et_pb_text _builder_version=”4.17.3″ text_font=”||||||||” text_line_height=”2em” header_2_font=”Poppins|600|||||||” header_2_font_size=”30px” header_2_line_height=”1.2em” max_width=”700px” module_alignment=”left” header_2_font_size_tablet=”24px” header_2_font_size_phone=”18px” header_2_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][et_pb_text _builder_version=”4.17.3″ text_font=”||||||||” text_font_size=”16px” text_line_height=”2em” header_font=”Poppins|600|||||||” header_font_size=”40px” header_line_height=”1.3em” text_font_size_tablet=”16px” text_font_size_phone=”14px” text_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n
SUCO Bank has come out with a new loan scheme for catering to the financial needs of Contractors for purchase of equipment required to carry out their contract works. The scheme will come into operation w.e.f. 07.02.2022.<\/strong><\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=”1″ admin_label=”Features” module_id=”loan-details” _builder_version=”4.16″ custom_padding=”0px||0px||true|false” da_disable_devices=”off|off|off” locked=”off” global_colors_info=”{}” da_is_popup=”off” da_exit_intent=”off” da_has_close=”on” da_alt_close=”off” da_dark_close=”off” da_not_modal=”on” da_is_singular=”off” da_with_loader=”off” da_has_shadow=”on”][et_pb_row _builder_version=”4.16″ locked=”off” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.17.3″ text_font=”||||||||” header_font_size=”40px” header_line_height=”1.3em” header_2_font=”Poppins|600|||||||” header_2_font_size=”32px” header_2_line_height=”1.6em” module_alignment=”center” header_2_font_size_tablet=”24px” header_2_font_size_phone=”18px” header_2_font_size_last_edited=”on|phone” locked=”off” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ make_equal=”on” _builder_version=”4.17.3″ locked=”off” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb title=”ELIGIBILITY ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/Margin-Gold-Loan-GL.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]<\/p>\n Note<\/strong> : Turnover is the sole criteria to be eligible under the scheme. At Least turnover of Rs. 5 Crore shall be achieved within 3 years.<\/p>\n [\/et_pb_blurb][et_pb_blurb title=”QUANTUM OF FINANCE ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/Insurance-of-stock-GL.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]Loan may be extended upto the extent of 75% to 90% of the Machinery cost \/ Invoice value.[\/et_pb_blurb][et_pb_blurb title=”PROCESSING FEE ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/Prequisite-Conditions-GL.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]Processing fee shall be collected @0.50 % + GST of the loan amount before the disbursement of loan amount.[\/et_pb_blurb][et_pb_blurb title=”DOCUMENTATION ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/sanctioning-authority.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]<\/p>\n (A) Before Disbursement : (B) After Disbursement : [\/et_pb_blurb][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.17.3″ custom_padding=”|||” custom_css_main_element=”margin:auto;” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_blurb title=”PURPOSE ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/Storing-of-Goods-GL.png” icon_placement=”left” content_max_width=”1100px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]To fund for the purchase of Machineries \/ Equipments etc. for carrying out the contract works.[\/et_pb_blurb][et_pb_blurb title=”RATE OF INTEREST ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/Period-of-loan.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]Rate of interest will be 9.50% p.a. till 28.02.2022 and then 10.50% from 01.03.2022 onwards, but for existing customers, the rate of interest will remain unchanged at 9.50% p.a. Penal interest shall be collected @ 3% on overdue amount.[\/et_pb_blurb][et_pb_blurb title=”SECURITY ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/sanctioning-authority.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]<\/p>\n Primary<\/strong> – Hypothecation of Machineries purchased out of loan amount. [\/et_pb_blurb][et_pb_blurb title=”INSURANCE” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/sanctioning-authority.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]Machineries \/ Equipment purchased out of loan purchased shall be insured with Bank clause.[\/et_pb_blurb][et_pb_blurb title=”LOAN REPAYMENT PERIOD ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/sanctioning-authority.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]<\/p>\n Entire loan amount shall be repaid within 60 months from the date of sanction of loan.<\/p>\n [\/et_pb_blurb][et_pb_blurb title=”OTHER TERMS & CONDITIONS ” image=”https:\/\/suco.bank.in\/wp-content\/uploads\/2021\/10\/Period-of-loan.png” icon_placement=”left” content_max_width=”400px” content_max_width_tablet=”550px” content_max_width_last_edited=”off|desktop” _builder_version=”4.17.3″ header_font=”Poppins|600||on|||||” header_font_size=”12px” header_letter_spacing=”1px” header_line_height=”1.6em” body_font=”||||||||” body_line_height=”2em” background_color=”#ffffff” custom_padding=”30px|20px|30px|20px|true|true” border_radii=”on|8px|8px|8px|8px” box_shadow_style=”preset1″ box_shadow_vertical=”10px” box_shadow_blur=”60px” box_shadow_color=”rgba(39,39,52,0.06)” locked=”off” global_colors_info=”{}”]<\/p>\n [\/et_pb_blurb][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" LOAN TO CONTRACTORSLOAN TO CONTRACTORSSUCO Bank has come out with a new loan scheme for catering to the financial needs of Contractors for purchase of equipment required to carry out their contract works. The scheme will come into operation w.e.f. 07.02.2022.Salient Feature of the Loan Product Registered Licensed contractors engaged in various types of contracts […]<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"class_list":["post-245423","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/pages\/245423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/comments?post=245423"}],"version-history":[{"count":5,"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/pages\/245423\/revisions"}],"predecessor-version":[{"id":245433,"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/pages\/245423\/revisions\/245433"}],"wp:attachment":[{"href":"https:\/\/suco.bank.in\/kn\/wp-json\/wp\/v2\/media?parent=245423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Salient Feature of the Loan Product<\/h2>\n
\n
\u00a0 \u00a0(i) KYC documents
\u00a0 \u00a0(ii) Contractor\u2019s License
\u00a0 \u00a0(iii) Quotation of the Machineries \/ Equipment to be purchased.
\u00a0 \u00a0(iv) Property documents for Legal Opinion \/ Scrutiny
\u00a0 \u00a0(v) Balance sheet, P&L and ITRs for the last 3 years.<\/p>\n
\u00a0 \u00a0(i) Invoice for the full value of the Machineries \/ Equipment
\u00a0 \u00a0(ii) Insurance should be invariably done with Insurance companies from
SUCO Bank has a corporate agency.<\/p>\n
Collateral<\/strong> – Immovable security having value upto the extent of 100% of loan amount.<\/p>\n\n
\n