Askari Lease Finance

Askari Lease Finance will allow you to procure specific assets such as vehicles, machinery, solar equipment etc., without compromising your liquidity position. This product suits educational institutions/hospitals and companies, for procurement of required assets.

Benefits

Repayment on instalments that suit your business cash flow

• Repayment becomes easy as the acquired asset(s) itself generates or saves cash flow for its repayment
• Lease period of 3 to 5 years (Grace Period available on a case-to-case basis)
• Allows you to preserve working capital for meeting day-to-day operational expenses
• Competitive markup rates Minimum down payment for:
• Vehicles – 10%
• Solar and other equipment – 30%
• Machinery – 25%
• Standard processing and financing disbursal procedure to ensure quick disposal of financing requests

Eligibility

• Proprietorship/partnership and private limited companies under SE/ME categories
• At least 3 years of business establishment
• In the case of proprietorship, the age of the client must be from 21 to 60 years. The age limit of 60 can be relaxed if the successor’s personal guarantee is included in the security structure
• Additional collateral may be required depending upon the nature of the business and leased asset

Askari Financing for Business Premises

Askari financing for Business Premises. Dreaming of having an office space or warehouse for your business? Askari Bank offers a Term financing for the the purchase, renovation, construction, or expansion of business premises. The security against the facility will be the mortgage of urban property(ies) in commercial/industrial areas.

Features

• Financing size: For construction/purchase; minimum Rs. 1M and maximum Rs. 50M, whereas for renovation, the financing size is not to exceed Rs. 10M
• Tenure of financing  is from 1 year to 10 years
• Standard processing and financing disbursal procedure to ensure quick disposal of financing  requests
• Competitive markup rate
• Debt/Equity: In the case of the purchase of constructed premises or purchase of land and then construction thereon, the borrower has to contribute 30% of the total cost. A contribution of 30% equity will not be required in case construction is to be carried out on owned land or for the renovation of property (if the value of land is 30% or more of the total financed amount)

Eligibility

• Proprietorship/partnership and private limited companies under SE/ME categories
• At least 3 years of established business
• In the case of proprietorships, the age limit is between 21 and 60 years, subject to the condition that the maximum age at the time of maturity of the financing does not exceed 60 years. The age limit of 60 can be relaxed if the successor’s personal guarantee is included in the security structure

Askari Financing for Fertilizer Dealers

Askari financing for Fertilizer Dealers offers facilities such as Running Finance, Guarantees and Pledge Financing. These facilities will allow dealers to expand their businesses in addition to meeting their working capital requirements, against the mortgage of property.

Features

• Financing size: Rs. 0.5M to Rs. 100M (Maximum limit is as per SBP criteria for SMEs)
• Tenure of Financing : 1 year, renewable on a yearly basis
• The availability of funds in hand will enable dealers to grasp business opportunities by expanding their businesses
• With a larger amount of funds in hand, avail booking of fertilizers from companies at better profit margins, by availing cash and volume discounts
• Competitive markup/commission rates

Eligibility

• Proprietorship/partnership and private limited companies under SE/ME categories
• Must have a dealership of fertilizer companies
• In business for at least 5 years with a satisfactory track record/market reputation
• In the case of proprietorship, the age of the client must be from 21 to 60 years. The age limit of 60 can be relaxed if the successor’s personal guarantee is included in the security structure

Askari Quick Finance

Askari Quick Finance offers you the opportunity to cater to your urgent personal requirements. The facility is offered against your personal savings while keeping your savings intact. Under this umbrella, product facilities such as Running Finance and Term Finance can be availed within the shortest possible time with the lowest documentation requirement.

Features

• Avail up to 90% financing against National Saving Certificates (DSC’s, SSC’s & RIC’s) and local currency deposits. A financing equivalent of 80% of the deposit will be allowed in case of foreign currency deposits
• Financing is also available against deposits maintained with other reputed banks
• No upper cap
• Market competitive rates
• Tenure of facility: 1 to 3 years
• Quick/convenient financing process

Eligibility

• All individuals above the age of 18 years

Askari Vendor's Financing

Askari’s Vendor Financing is specifically designed for vendors of corporate entities/multinational companies to help manage their balance sheets in a better way. It ensures quick and reliable liquidity through the sale of invoices or accounts receivable. 

Features

• Ensures availability of continuing liquidity to meet short-term commitments
• Receivables from pre-approved buyers will be purchased
• Keeps businesses worry-free from loan repayment and payroll
• Can meet seasonal demands
• Enables you to focus on core business
• Competitive markup rates
• Tenure of up to 120 days

Eligibility

• Proprietorship/partnership and private limited companies under SE/ME categories
• At least 3 years of business establishment
• In the case of proprietorship, the age of the client must be from 21 to 60 years. The age limit of 60 can be relaxed if the successor’s personal guarantee is included in the security structure
• Additional collateral may be required depending upon the nature of the business and receivables