Loan Amount
Up to ₹10 Crore
Interest Rate
Starting at 9.99%* p.a.
Loan Tenure
12-72 Months

Optimise Business Costs With Online Equipment Financing

Financing the equipment needs for your business offers an ingenious solution to reducing upfront costs and augmenting your production capabilities. With Poonawalla Fincorp’s Machinery Loan, you can easily source online equipment financing for the purchase of high-value industrial equipment. Get funds up to ₹10 Crore with a hassle-free application process and flexible repayment options among multiple other benefits. Apply now!

Why Choose Poonawalla Fincorp

High Loan
Amount
Competitive
Interest Rate
Minimal
Documentation
Quick
Disbursal
Online
Application

Machinery Loan EMI Calculator

Plan your monthly repayment budget with the help of our EMI calculator for online equipment financing. Simply enter the loan amount, interest rates, and loan tenure to get instant results. Try now!

Optimise Your Machinery Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹500000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
9.99 %
15 %

Tenure

Months
12Months
72Months

Apply for a Machinery Loan in Just 3 Steps

Click on '‘Apply Now’'

Tap the “Apply Now” button to initiate your application.

Enter Details

Enter your personal, contact, business and other details.

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria For Online Equipment Financing

You can easily qualify for Poonawalla Fincorp’s online equipment financing by meeting a few simple eligibility requirements:

  • CIBIL Score: You have a minimum CIBIL score of 750 or higher.
  • Age: You are at least 25 years of age and not more than 65 years of age when applying for the loan.
  • Citizenship: You hold an Indian citizenship.

Note: The eligibility criteria provided are indicative. Additional eligibility conditions may be required while processing the loan application.

 

 

Documents Required for Online Equipment Financing

Submit minimal documents to apply for the loan:

  • KYC Documents: PAN card/Aadhaar card/Driving license/Voter ID/Passport.
  • Financial Documents: Last 2 years' financials containing ITR, Computation of Income, B/S, P&L, Audit Reports and Applicable Schedules.
  • Banking Details: Past 6 months’ bank statements of all active accounts (CA/CC/OD) and all live loans sanction letters/RPS/SOAs.

Click to know more about the required documents in detail

Interest Rate and Charges for Online Equipment Financing

You can avail of online equipment financing at no hidden charges from Poonawalla Fincorp. Equipment financing is available at competitive interest rates and nominal processing fees:

Interest Rate
9.99%* p.a. onwards
Processing Fee
Up to 2%
Loan Amount
₹5 Lakh to ₹10 Crore
Loan Tenure
12 – 72 months
Foreclosure Charges
0% if paid from own sources
4% and taxes if paid from other sources
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500/- Per Bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

rightArrow
rightArrow

Frequently Asked Questions

What type of equipment can be financed?

Poonawalla Fincorp’s online equipment financing can cover a wide range of industrial machinery, including construction equipment, heavy machinery, manufacturing equipment, high-precision machines such as CNC machines, printing equipment, generator sets and more. The eligibility depends on the specific needs of the business as well as the credit profile of the applicant.

Why should I opt for online equipment financing instead of buying equipment out right?

Even if you have funds in reserve, online equipment financing offers significant advantages over buying equipment by helping conserve working capital and reducing upfront costs of businesses.

 

Can I avail of online equipment financing to upgrade to better machinery?

Definitely. You can avail of online equipment financing to replace existing machinery or upgrade to better machinery for your business. This flexibility allows businesses to stay competitive and efficient by ensuring they have access to the latest technology and equipment when needed.

What documents are required to apply for online equipment financing?

While the document requirements for online equipment financing can vary depending on the lender, typical documents include KYC documents, financial statements, business tax returns, equipment quotes or invoices, and a business plan. Lenders may also evaluate your credit history and business performance.