Get Equipment Financing Quickly!
Equipment financing is essential for any business to become a successful enterprise, and Poonawalla Fincorp’s Machinery Loan serves as an excellent option in this case. It is designed to help you purchase the latest machinery to boost sales, profit, and improve business efficiency.
Our Machinery Loan can be availed of to fulfil different business purposes. You can use it for business expansion, upgrading existing equipment, or staying updated with the best practices in the industry. Additionally, you can easily apply for the loan through a simple and quick online application process. Get ready to transform your business for the better with our equipment financing loan. Apply now!
EMI Calculator for Online Machinery Loan
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Interest Rate and Charges on Machinery Loan
Poonawalla Fincorp offers Machinery Loans at competitive interest rates starting from just 9.99% per annum. Our loan is a great option for those looking for affordable and convenient financing options for their machinery needs. To know more about the applicable charges, please refer to the table below:
| Machinery Loan Interest Rates | 9.99%* p.a. onwards |
| Loan Amount | ₹5 Lakh to ₹5 Crore |
| Loan Processing Fees | Up to 2% |
| 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 |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| Other Hidden Charges | Nil |
Note: Default Charges: Penalty will be charged for non payment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.
Eligibility Criteria for Online Machinery and Equipment Loan
Age
Citizenship
Business Vintage
- Age - Applicant must be between 25 and 65 years of age
- Citizenship - Indian
- Business Vintage - Applicant must have a business vintage of at least 3 years
Documents Required
Here are the documents required for Equipment Loan Financing:
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PAN Card/Aadhaar Card/Driving Licence/Voter ID/Passport
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Financial Documents
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Banking Details
Note: Additional documents may be required at the time of loan processing. Please check the complete list from the ‘Eligibility & Documents’ webpage.
Major Benefits of Poonawalla Fincorp’s Machinery Loan
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Up to ₹5 Crore Loan Amount
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Competitive Interest Rates
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Tenure of Up to 60 Months
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No Hidden Charges
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Minimal Documentation
Frequently Asked Questions About Machinery Loan
Machinery Loan is a financing product that is designed to help businesses purchase machinery and equipment. It provides funds for the purchase of equipment that is essential for business operations.
To be eligible for a Machinery Loan, the applicant must be an Indian citizen, between 25 and 65 years of age, and have a business vintage of at least 3 years.
The maximum loan amount that can be availed under a Machinery Loan from Poonawalla Fincorp is up to ₹5 Crore.
There are several benefits of availing a Machinery Loan from Poonawalla Fincorp. Some of the major ones include competitive interest rates, up to ₹5 Crore loan amount, tenure of up to 60 months, no hidden charges, and minimal documentation.
You can apply for a Machinery Loan by visiting our official website and filling out the online application form in just a few simple steps.
*Terms & Conditions Apply
