Machinery Loan

A machinery loan assists businesses in acquiring or upgrading equipment without the burden of significant upfront capital expenditure. This loan provides the necessary capital for enterprises of any size, enabling investment in modern machinery.

With competitive interest rates and quick approval, businesses have the opportunity to secure up to ₹80 Lakhs on Bajaj Markets to drive growth and enhance operational efficiency.

Here are some common eligibility criteria you may be required to fulfil when applying for a machinery loan:

• Citizenship: You need to be an Indian citizen

• Experience: Your business must be operational for at least 1–3 years

• CIBIL score: A credit score of 700 or above is required

• Employment: You need to be self-employed, either professional or non-professional

• Age: You must be above 21 years of age

• Business type: Your business should be registered as a partnership, limited liability partnership, or private limited company

• Business turnover: Your business must have a minimum annual turnover of ₹1 Lakh
   

The requirements may differ from one lender to another for machinery finance. Make sure to check with the financial institution and understand the eligibility criteria for the loan.

Here are some documents financial institutions usually require you to submit when applying for a machinery loan:

• Identity proof: Any one of the following

  1. PAN card

  2. Aadhaar card

  3. Passport

  4. Driving licence, etc.

• Address proof: Any one of the following

  1. Passport

  2. Voter ID card

  3. Driving licence

  4. Utility bills, etc.

• Business proof: Any one of the following

  1. Last 2 years’ ITR and 1 year’s bank statement

  2. Trade licence

  3. Sales tax certificate, etc.

• Income proof

• Existing facility sanction letter

• Original quotation of the machinery you want to purchase with the loan

On Bajaj Markets, you can apply for a machinery loan in some simple steps. Just follow these steps:

1. Click here to open the application form

2. Provide your mobile number and verify it with the OTP received

3. Enter your personal and business information in the form

4. Upload your bank statements for the last six months and submit the form

A representative will contact you to guide you through the next steps.

Reference of all T&C necessarily refers to the terms of the Partners as regards to pre-approved offers and loan processing time amongst other conditions.