LOAN FAQ


How to apply for a facility?

For lease or inquiry please dial using our hunting numbers. Our relationship managers will be happy to respond your queries and in touch with you. You can also visit at our registered office.

What is lease?

It is a contractual agreement between you and REFL establishing an arrangement, holding you as the lessee and REFL as the lessor, for the use of an asset in return of periodic payments from you.

 

What is agreement?

Lease Agreement consists of the negotiated terms and estimated acquisition cost.

 

What is lease term?

Lease term means the non-cancelable period during which you can use the leased equipment exclusively. Generally it ranges from 3 to 5 years.

 

What is lease rental?

Lease rental is the periodical payments made after the lease execution. The period can be monthly, quarterly and semi-annually according to the client’s need.

 

What is execution?

The lease is executed when the delivery or installation of the equipment is completed. At the time of execution the actual payment schedule is fixed and you are required to start paying the rental.

 

Who pays for the insurance cost?

You are required to arrange the insurance coverage on the leased equipment for the entire lease term.

 

Who chooses the asset?

Client makes the decision about deciding equipment, vendor, terms and conditions including price.

 

Who is responsible for maintenance of the equipment?

The client is required to maintain the leased equipment in good operating condition, even if the insurance covers most of the unusual risks.

 

Who bears the cost of opening the L/C or other related charges?

The actual purchase price and other incidental expenses including financial expenses and all bank charges shall   constitute the acquisition cost and would be  capitalized at the time of execution.