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Discover the ease of acquiring new business machinery through machinery loans
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.
Enjoy a streamlined application procedure with minimal documentation requirements for quick verification and approvals
Get tailored financing options to match your machinery investment needs and borrow according to the specific requirements of your business
Benefit from competitive interest rates and minimise the cost of borrowing while also exploring fixed or floating interest rate options
Choose a short or long repayment tenure as per your business requirements
Receive swift access to funds with the rapid approval and disbursement process for the timely acquisition of machinery
Get the loan without having to submit any additional collateral, as the newly purchased machinery acts as security for the loan
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
PAN card
Aadhaar card
Passport
Driving licence, etc.
Address proof: Any one of the following
Passport
Voter ID card
Driving licence
Utility bills, etc.
Business proof: Any one of the following
Last 2 years’ ITR and 1 year’s bank statement
Trade licence
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, compare interest rates, loan amounts, and other charges offered by different lenders. Here is an overview of the lenders and their terms:
Lender |
Max. Loan Amount |
Min. Interest Rate (p.a.) |
Max Tenure |
Processing Fee |
|---|---|---|---|---|
Bajaj Finance Limited |
₹80 Lakhs |
14% |
96 months |
Up to 4.72% (Inclusive of applicable taxes) of the loan amount |
L&T Finance |
₹75 Lakhs |
15.50% |
60 months |
2% of the loan amount + GST |
IIFL Finance |
₹30 Lakhs |
16.50% |
48 months |
2% to 6% of the loan amount + GST |
KreditBee |
₹30 Lakhs |
18% |
36 months |
3% to 4.25% of the loan amount |
FlexiLoans |
₹50 Lakhs |
18% |
42 months |
Up to 2.5% of the loan amount |
Lendingkart |
₹35 Lakhs |
19.20% |
36 months |
Up to 3% of the loan amount |
Ambit Finvest |
₹2 Lakhs |
20% |
36 months |
3% of the loan amount |
Protium |
₹35 Lakhs |
20.50% |
36 months |
1% to 6% of the loan amount |
Indifi |
₹30 Lakhs |
22% |
36 months |
Up to 3% of the loan amount + GST |
Aditya Birla Capital |
₹10 Lakhs |
22% |
36 months |
3% to 4% of the loan amount + GST |
Credit Saison |
₹10 Lakhs |
22% |
36 months |
Up to 4.72% (Inclusive of applicable taxes) |
InCred |
₹3 Lakhs |
24% |
60 months |
2% to 5% of the loan amount |
UGRO Capital |
₹50 Lakhs |
24% |
72 months |
Nil |
AYE Finance |
₹2 Lakhs |
29.50% |
30 months |
Up to 2% of the loan amount |
Disclaimer: The above-mentioned information is subject to change as per changes in the lenders’ policies.
On Bajaj Markets, you can apply for a machinery loan in some simple steps. Just follow these steps:
Click on ‘APPLY ONLINE’ to open the application form
Provide your mobile number and verify it with the OTP received
Enter your personal and business information in the form
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.
Machinery loans are business loans designed to help enterprises purchase or upgrade equipment and machinery. These loans provide financial support without requiring additional collateral, as the machinery itself often serves as security.
Yes, many lenders offer machinery loans for used equipment. However, the eligibility and terms of the loan may vary from one lender to another.
On Bajaj Markets, you get the maximum tenure for a machinery loan of up to 8 years. Longer tenures offer repayment flexibility and allow you to align them with your business cash flow.
You can get the maximum loan amount up to ₹80 Lakhs from Bajaj Markets. However, it depends on factors like your business's financial health, credit score, and the specific machinery you intend to finance.
You can get a machinery loan without collateral from various lenders on Bajaj Markets. Just visit the page, fill out the application form, and submit the required details to get started.
