cnc machine loan

Loan to Purchase CNC Machine

Quick Disbursal | Attractive Interest Rates | Easy Online Process

In today's rapidly evolving manufacturing landscape, precision and efficiency are paramount. CNC (Computer Numerical Control) machines have revolutionized the industry by automating and enhancing the precision of machining processes. However, acquiring these advanced machines can be a significant financial undertaking for businesses. Addressing all the financial needs, CNC Machine Loans offering the financial support needed to harness the power of CNC technology and propel your business to new heights.

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When you're thinking about availing Machinery Loan to purchase CNC machine, it's important to know about its rates and charges. The interest rates start at 9.99%* per year. You can find more details below:

Interest Rates for CNC Machine Loan 9.99%* p.a. onwards
Loan Amount ₹5 Lakh to ₹5 Crore
Loan Processing Fees Up to 1% plus applicable taxes
Lowest EMI per month Starting from ₹2,124* per Lakh for 60 months
Loan Tenure 12 – 60 months
Prepayment/Foreclosure Charges 0%* If paid from own sources & 4% If paid from other sources
Default Charges 24% per annum
Cheque Bounce Charges ₹500 per bounce plus applicable taxes
Stamp Duty At actuals (as per state)
No Other Hidden Charges

Eligibility Criteria:

Below are the factors that determine eligibility for a CNC Machine Loan:

Minimum CIBIL Score

Minimum CIBIL Score

Age Requirement

Age

Nationality

Nationality

  • Minimum CIBIL Score - A minimum CIBIL score of 650 or higher is required to be eligible for the Heavy Machinery Financing.
  • Age - The applicant should hold Indian citizenship.
  • Nationality - The applicant must be between 25 and 65 when applying for the loan.

Here are the documents required for a CNC Machine Loan:

  • Income Proof

    Identity Proof

  • Identity Proof

    Income Proof

  • Address proof

    Business Proof

  • Address proof

    Address Proof

  • Identity Proof: Any valid government-issued photo ID (e.g., PAN Card, Aadhaar Card, Passport, Driving Licence, Voter ID).
  • Income Proof: Documents showing your income, such as bank statements, salary slips, or income tax returns for self-employed individuals.
  • Business Proof: Relevant documents showcasing the existence and nature of your business. Please ensure you have these documents ready to expedite the loan application process for your Genset Loan.
  • Address Proof: Proof of your current residential address (e.g., utility bills, rental agreement).
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Your applied loan is ready for disbursal. Our representative will help you with post approval formalities.

What is a CNC Machine Loan?
Who is eligible for a CNC Machine Loan?
What can I use a CNC Machine Loan for?
How do CNC Machine Loan interest rates work?
What is the typical loan term for CNC machine financing?
What documents are required to apply for a CNC Machine Loan?

*Terms & Conditions Apply

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