Online Equipment Financing for Your Business Growth!
Equipment financing is a lifeline for manufacturers who are looking for latest equipment without the burden of a substantial upfront cost. A lender extends a loan allowing for manageable monthly payments. With Equipment Financing, businesses have advantages like improved cash flow, potential tax benefits, and accessibility with varying credit profiles.
The advent of online financial services further enhances this boon for manufacturers. Online equipment financing streamlines the asset acquisition process, documentation, and approval. Manufacturers can swiftly acquire the machinery ensuring their operations remain competitive and efficient.
EMI Calculator for Online Equipment Loan
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EMI Amount = *
Industrial Equipment Loan Interest Rate & Charges
Avail of Equipment Loan rates starting at 9.99% p.a. with loan processing fees of up to 2%. Please see below for more details:
| Interest Rates for Industrial Equipment Loan | 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) |
| No Other Hidden Charges | |
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 & Documents for Equipment Financing
Nationality
Age
Minimum CIBIL Score
- Nationality - The applicant should hold Indian citizenship.
- Age - The applicant must be between 24 and 65 years old when applying for the loan.
- Minimum CIBIL Score - A minimum CIBIL score of 650 or higher is required to be eligible for the Heavy Machinery Financing.
Documents Required for Online Equipment Financing
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Address Proof
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Identity Proof
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Business Proof
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Income Proof
- Address Proof: Proof of your current residential address (e.g., utility bills, rental agreement).
- Identity Proof: Any valid government-issued photo ID (e.g., PAN Card, Aadhaar Card, Passport, Driving Licence, Voter ID).
- Business Proof: Relevant documents showcasing the existence and nature of your business.
- Income Proof: Documents showing your income, such as bank statements, salary slips, or income tax returns for self-employed individuals.
Please ensure you have these documents ready to expedite the loan application process for your Loan.
Major Benefits of Online Equipment Loans for Industries
- Access to Cutting-Edge Machinery: With an online Equipment Loan, your business gains access to the most advanced machinery available in the market. This ensures that you stay competitive and can provide top-notch products or services.
- Improved Productivity: Upgrading or expanding your equipment fleet can significantly enhance your operational efficiency. Modern machinery often comes with automation, precision, and speed improvements, resulting in increased productivity and reduced downtime.
- Cost-Efficiency: Financing your equipment through a loan allows you to spread the cost over time, preventing the strain of a large upfront investment. This can free up capital for other essential aspects of your business, such as working capital or growth initiatives.
- Flexibility in Financing: Online equipment financing offers a range of flexible terms and options. You can choose the loan tenure, interest rates, and down payment that aligns with your financial goals and business needs.
How to Apply for Industrial Equipment Finance within 5 Minutes?
Apply
Online
Apply Online
Click on Apply Online and fill in the application form
Submit
Documents
Submit Documents
Provide your basic details
Verification
Verification
Your application will be processed and sent for basic verification
Quick
Approval
Quick Approval
Get your loan approved quickly
Instant
Disbursed
Instant Disbursed
Your applied loan is ready for disbursal. Our representative will help you with post approval formalities.
FAQ’s About Industrial Equipment Finance
Equipment financing can cover a wide range of machinery and assets, including construction equipment, vehicles, medical devices, technology, industrial machinery, and more. The eligibility often depends on the lender and the specific needs of the business.
*Terms & Conditions Apply
