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Machinery Loans in Bangalore

A machinery loan is a type of financing specifically designed to help businesses acquire machinery and equipment necessary for their operations. These loans can cover various types of machinery, ranging from manufacturing equipment to agricultural machinery, construction tools, and more. Machinery loans in Bangalore provide businesses in the region with the financial assistance needed to invest in machinery without the burden of upfront costs. These loans typically offer high Loan-to-Value (LTV) ratios, meaning borrowers can secure a significant portion of the machinery’s value as a loan Choosing the best machinery loan provider in Bangalore involves considering factors such as interest rates, loan terms, loan processing time, customer service quality, and overall reputation. By selecting a reliable and reputable lender, businesses can ensure a smooth and hassle-free borrowing experience, ultimately contributing to their growth and success in the region.

Why Choose Us

Comprehensive Range of Loans

With Mindfin Ser, you gain access to a comprehensive range of machinery purchase loans.

High Loan-to-Value (LTV) Ratios

Enjoy high Loan-to-Value (LTV) ratios with Mindfin Ser's machinery loans, allowing you to secure a significant portion of the machinery's value as a loan.

Minimal Documentation

Mindfin Ser understands the importance of time in business operations. Hence, they offer machinery loans with minimal documentation requirements, saving you time and effort.

Machinery Loan Features & Benefits

Mindfin provides Machinery Loans that assist in managing the financial needs. If you are in need of financial aid to expand and grow, Mindfin is an ideal choice for availing a hassle-free Machinery loan.

Flexible Repayments

Flexible EMI repayments between 12 to 60 months are available with affordable interest rates.

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Affordable Interest Rates

Shriram Finance provides business loans at affordable interest rate starting from 15%*p.a.

Minimal Documentation

Get access to finances when you need with our minimal documentation process and eligibility criteria.

Wide Range of Machinery

We fund a wide range of Machinery Purchases at high LTVs up to 80% across customer segments.

Easy & Quick Disbursal

Our Machinery Loans are made for a wide customer range, our assessments are simple and quick.

Types of Machinery Loan

Construction Equipment Loans

These loans are specifically tailored for construction companies and businesses to finance the purchase of heavy machinery and equipment necessary for construction projects, such as excavators, bulldozers, cranes, etc.

Manufacturing Equipment Loans

Manufacturing equipment loans are used to finance the purchase of machinery and equipment needed for manufacturing processes. This can include machinery for production lines, packaging equipment, industrial ovens, etc.

Corporate Aviation Loans

Corporate aviation loans are used to finance the purchase of private aircraft for business purposes. These loans may cover the cost of purchasing airplanes, helicopters, or other types of aircraft used for corporate travel.

IT and Office Equipment Loans

IT and office equipment loans are used to finance the purchase of computers, servers, software, printers, copiers, and other office-related technology and equipment necessary for business operations.

Electronics & Appliances Loans

These loans are aimed at businesses involved in the electronics and appliances industry to finance the purchase of production machinery, assembly lines, testing equipment, and other tools necessary for manufacturing electronic devices and appliances.

Machinery Loans Eligibility

The following people are eligible to apply for a Machinery Loan

  1. Applicant’s age must be between 21 years to 65 years at the time of loan maturity
  2. Business vintage to be minimum of 2 years
  3. Applicant should not have defaulted on any previous loan or credit card EMIs
  4. Applicant with good credit score and repayment history

Documents you need to apply.

To continue with your application, you must request the following documents.

01
KYC documents of the applicants and co-applicants, if applicable, such as PAN Card, Aadhaar, Passport, Voter’s ID card, Aadhar Card & Driving License
02
Proof of income
03
Business vintage and existence proofs
04
Last 2 year’s ITR & Last 1 year’s bank statement
05
Existing facility sanction letter
06
Original and valid quotation of the machine(s) – To be purchased
07
Additional documents, as required by the lender

Interest Rates and Charges

For interest rate and applicable Fees/charges, Contact Us to know more

How to Apply

  1. Visit the Nearest Branch of Mindfin ser and our Relationship Manager will guide you on the application process.
  2. You can also Contact Us and our Customer Care Executive will fix a service appointment with our Relationship Manager to help you with the application process.

Frequently Asked Questions About Machinery Loan

What is the machinery loan term?

A machinery term loan is a type of credit facility that allows you to borrow funds for leasing, repairing, purchasing, or upgrading machinery. This can improve efficiency and productivity without straining your working capital.

What is the purpose of availing Machinery Loan?

Generally, Machinery Equipment requires high expenses to purchase, which not every business can afford outright. The machinery loan facility helps business owners meet their specific requirements by providing funds to acquire necessary machinery and equipment.

What are the benefits of Machinery Loan?

The benefits of Machinery Loan include:
1. Quick access to liquidity in a short time.
2. No collateral required.
3. Fast processing.
4. Low-interest rates.