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Benefits of Machinery Loans

By Finserv MARKETS - Mar 31,2020
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Benefits of Machinery Loan

Modern tools and equipment have an important contribution to business growth. These equipment are in great demand because of their flawless results and product quality. Moreover, these machineries come at a cost that may sometime fall on the higher side for Small and Medium Enterprises. Getting a loan for SMEs and MSMEs is a great way to expand the business that offers special benefits to the borrower. Purchasing high tech machinery and equipment can be quite expensive. So, with the help of Machinery loans offered by different banks and NBFCs has made it easy to purchase equipment that can provide a competitive edge.

The following are some of the benefits of applying for a machinery loan.

It’s easy to avail a big loan amount

To ensure smooth production of products for your business, you can avail a loan of up to Rs. 30 lakhs that will cover all kinds of expenses incurred in the business. At Finserv MARKETS, you can apply for a business loan that offers the necessary funding required for your business. You can use the loan amount for any machinery-related need and make use of the Flexi Loan facility for even more flexibility. Besides, you can enjoy added benefits such as pre-approved offers, flexible loan tenor and easy online loan application process and management.

An unsecured loan with easy terms

When you apply for this loan, you are not required to arrange for a guarantor or pledge any of your personal assets as collateral. In addition, the loan policies are extremely transparent with no hidden charges, so you can rest assured that there will not be any hidden clauses. Subsequently, the loan application process is quite simple and you can complete it by fulfilling the basic business loan eligibility criteria and by submitting on the required documents.

Avail instant funds for your business

One of the best features of availing a machinery loan is that they are processed quickly and hence you get instant money in the account. Time is precious so you cannot afford any sort of delay in receiving the loan amount. A machinery loan can offer you quicker loan disbursal than what is offered by other loans. Once your loan application gets approved you can expect a disbursal of the amount directly to your bank account in as soon as 24 hours. Such instant funds ensure that you don’t have to use the business capital to boost your business.

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Flexi loan facility

With a Flexi Loan feature on your loan, you can make use of a machinery loan on your terms. You can withdraw funds when it is required from the total Flexi Loan sanction. You only have to pay interest on what you use, so you can rest assured that you won’t be paying extra for this facility. Besides, you also have the option to pay only the interest on your loan as monthly installments. You can later repay the principal at the end of the loan tenor. With a Flexi Loan, you can easily, repay and redraw funds as many times as you wish to, during the loan tenor.

Make use of the Pre-approved offers

Getting a loan is the best way to fund your business’ equipment needs, regardless of whether it is a simple repair or getting new types of machinery. If you apply for a loan from a lender you have already been a customer of, you can simply avail the loan on a pre-approved basis. Being an existing customer makes the process quite easier as the lender already has all your personal details. You just have to provide any additional information to get access to a machinery loan. This results in quicker approval and disbursal of the loan amount.

In order to fulfill your financial needs, you can avail a business loan at Finserv MARKETS and avail up to Rs. 30 lakh of the loan amount. You can use the funds to invest in infrastructure, expand operations, upgrade to the latest plant and machinery or maintain inventory. You can also enjoy a high top-up loan or an interest rate reduction on your loan.

At Finserv MARKETS, you can avail a customized business loan that is affordable and hassle-free. These unsecured business loans get approved under 24 hours, come with easy eligibility criteria and can be applied for with minimal paperwork. These exclusive features make Finserv MARKETS the best, fastest and most hassle-free loan provider to meet the urgent financial needs of your business. Anyone from a self-employed non-professional to a self-employed professional can apply for a loan and finance their business.

“Finserv MARKETS, a subsidiary of Bajaj Finserv, is a one-stop digital marketplace that has been created for consumers on the go. It offers 500+ financial and lifestyle products, all at one place. At Finserv MARKETS, we understand that every individual is different. And that’s why we have invested in creating a proposition – Offers You Value. A value proposition that ensures you get offers which are tailor made for you. We also offer an amazing product range and unique set of online offers across Loans, Insurance, Investment, Payments and an exclusive EMI store. Be it in helping you achieve your financial life goals or offering you the latest gadgets, we strive to offer what you are looking for. From simple and fast loan application processes to seamless and hassle-free claim-settlements, from no cost EMIs to 4 hours product delivery, we work towards fulfilling all your personal and financial needs. What’s more! Now enjoy the same benefits in just one click with our Finserv MARKETS App.”

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Bajaj Finserv Direct Limited ("BFDL"), erstwhile Bajaj Financial Holdings Limited is a registered corporate agent of Bajaj Allianz Life Insurance Company Limited and Bajaj Allianz General Insurance Company Limited under the IRDAI composite registration number CA0551 valid till 10-Apr-2021. BFDL also renders services to Bajaj Finance Limited (‘BFL’) and Bajaj Housing Finance Limited (‘BHFL’) (referred hereinafter as ‘Lending Partner’) in sourcing of customers, providing preliminary credit support activities, fulfilment services and post-acquisition customer services related to lending business. Registered Office: Bajaj Auto Limited Complex, Mumbai – Pune Road, Akurdi, Pune – 411 035 CIN: U65923PN2014PLC150522