Generator Set Loan to Empower Your Business
Whether you are a small-scale enterprise or a large industrial setup, the need for a dependable generator set (genset) is crucial. Keep your business running by sourcing a generator set through a Machinery Loan from Poonawalla Fincorp.
Get up to ₹5 Crore with minimal documentation, opt for a convenient repayment tenure, and enjoy easy application and fast approval. Apply now!
Genset Loan EMI Calculator
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EMI Amount = *
Genset Loan Interest Rates and Charges
| 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.
Genset Loan Eligibility Criteria
Securing a genset loan with Poonawalla Fincorp is easy and hassle-free. Here are the eligibility criteria:
| Eligibility Criteria | Requirements |
| Citizenship | Indian |
| Age | 24 years to 65 years |
| Business Vintage | At least 3 years or above |
Documents Required
List of documents required for a genset loan are:
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Identity Proof
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Address Proof
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Financial Documents
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Banking
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Business Proof
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Business Vintage
- Identity Proof: Any valid government-issued ID (e.g., PAN Card, Aadhaar Card, Passport, Driving Licence, Voter ID).
- Address Proof: Proof of your current business address (e.g., utility bills, rental agreement).
- Financial Documents: Income Tax Returns (ITR), Computation of Income (COI), audit report, Balance sheet, P&L and its schedules.
- Banking: Last 6 months Bank statement in PDF format.
- Business Proof: Relevant documents showcasing the existence and nature of your business.
- Business Vintage: Proof of business operations (must be operational for at least two years).
Note: The above-mentioned Genset Loan documents list is indicative. Additional documents may be required during loan processing.
Features and Benefits of Genset Loan
Here are some features and benefits of our genset loan:
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High Loan Amount
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Competitive Interest Rates
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Up to 2% Processing Fee
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Minimum Documentation
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Flexible Repayment Tenure
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Quick Approval & Hassle-Free Process
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Loan to Value (LTV)
- High Loan Amount: You can avail of a genset loan of up to ₹5 Crore.
- Competitive Interest Rates: Enjoy competitive interest rates starting at 12% p.a.
- No Hidden Charges: All charges are clearly disclosed. We offer transparency throughout the loan application process.
- Minimum Documentation: To get your genset loan approved faster, you only need to submit basic documents.
- Zero Foreclosure Charges: There are zero prepayment charges if the loan is paid off using your own funds.
- Flexible Loan Tenure: Choose a loan tenure that suits your business cash flow, ranging from a minimum of 12 months up to a maximum of 48 months.
- Quick Approval and Hassle-Free Process: Our genset loan offers quick approval with a straightforward application process and minimal documentation.
- Loan-to-Value (LTV): You can receive loans up to 80% of the asset value, providing substantial financial support for your genset acquisition.
How to Apply for a Generator Set Loan
You can refer the below-mentioned instructions to apply:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan will be transferred to your bank account.
Apply for Instant Genset Loan within 5 Minutes
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Click on ‘Apply Now’ and fill in the application form
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Provide your basic details
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Your application will be processed and sent for basic verification
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Approval
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Get your loan approved quickly
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Once your loan application is approved, our representative will guide you through further formalities
Frequently Asked Questions
A genset loan is a type of financing that is specifically designed for acquiring generator sets or machinery for businesses. It offers businesses the convenience of obtaining the required equipment while preserving their working capital.
Any business owner in need of a generator set for their business can apply for a genset loan. The business owner must be between 24years to 65 years old and an Indian citizen. The business owner should have at least 3 years of business vintage.
By availing of a genset loan for your business, you can ensure an uninterrupted power supply, reducing downtime and enhancing operational efficiency.
Poonawalla Fincorp offers genset loans at attractive interest rates, starting at 12%*p.a. Additional charges include a processing fee up to 2% of the loan amount.
Applying for a genset loan is a simple process. To obtain instant funds, follow these easy steps:
- Step 1: Click on the ‘Apply Now’ button under ‘Genset Loan.’
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan will be transferred to your bank account.
*Terms & Conditions apply
