Apply Business Loan for Machinery And Equipment

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Business Loan for Machinery And Equipment

A business loan for machinery and equipment is a strategic investment that empowers businesses to enhance their productivity, efficiency, and overall competitiveness. In various industries, the acquisition of specialized machinery and equipment is essential to streamline operations and meet growing demands. However, purchasing these assets can be a significant financial burden for many businesses. That's where a machinery and equipment loan comes into play. By providing the necessary funds to procure or upgrade vital machinery, businesses can optimize their production processes, reduce operational costs, and improve product quality. This enables them to meet customer expectations, stay ahead of competitors, and maximize their revenue potential. With the right machinery and equipment loan, businesses can bolster their capabilities, boost profitability, and achieve long-term sustainability in their respective markets.

Loanmoney will help in getting business loans for machinery and equipment because it is a direct selling agent. It will provide complete transparency regarding every term and condition related to your loan processes, including interest rates, payment tenure, EMI, and any other charges applicable throughout the loan process. All information will be shared and documented carefully before loan disbursement. Apply for Business Loan for Machinery and Equipment with us.

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All Banks Business Loan

Bank Name

Loan Amount

Interest Rate

Special Features

HDFC Ltd
Business Loan

Details

10 Lac - 10 Crore

12.75% - 17.50%

Lowest Rates of Interest In Market

Eligibility Criteria

Salaried - Age at least 23 and less than 58
Maximum Tenure - 72 Month
Applicant Should Be Earning at Least 35,000 Per Month as Net Income
Nil Closure and Part Payment Facility Available for More than 10 Lac Loan Amount.

Documents

Passport Size Photo, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - Latest 3 Months Salary Slip & 6 Months Bank Statements Of Till Date(Pdfc)
Additional Documents - Form 16 & Office I-Card Mandatory for Government Customers

Fees & Charges

Nil Charges For Closure and Part Payment Available For More Than 10 Lac Loan Amount.
10 Lacs Loan Amount -pre-closure Fee = 4% Of Principal Outstanding 2nd Year. 3% In 3rd Year & 2% Afterwards.
Part-payments Can Be Made Only After 12 Months. For Part Payments Between 13 To 24 Months, A Fee Of 4% Is Applicable On The Part-payment Amount. 3% Is Applicable On Payments Between 25 To 36 Months. 2% Is Applicable Post 36 Months.
Part-payments Are Allowed Only Twice During The Loan Tenure And Once A Year. The Amount Cannot Exceed 25% Of The Principal Outstanding.
In Golden Edge Facility Pre Closure Charges Nil After 12 Months

ICICI Bank
Business Loan

Details

5 - 40 Lakhs

15.50% - 19%

Get Loan on GST Returns No Financial Require

Eligibility Criteria

Salaried - Age at least 23 and less than 65
Applicant Must Have A Monthly Income Of 35,000 Or More
For Non Listed Companies Monthly Income Should Be 40,000 Per Month

Documents

Passport Size Photo, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - Latest 3 Months Salary Slip & 3 Months Bank Statements Of Till Date(Pdfc)
Additional Documents - 6 Months Banking Required If Case Book For Balance Transfer With 6 Months EMI Clearance

Fees & Charges

Nil Charges For Closure And Part Payment Available For More Than 10 Lac Loan Amount.
Pre-closure Fee - 5% Of Principal Outstanding
Golden Edge Scheme Available More Than 10 Lacs Loan Amount

Bajaj Finserv
Business Loan

Details

5 - 45 Lacs

15% - 19%

OD Facilities with 12 Hr Disbursment

Eligibility Criteria

Salaried - Age at least 23 and less than 58
Monthly Income Should Be More Than 20,000
For Listed & Non Listed Both
Digital Process

Documents

Selfie, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - 3 Months Bank Statements Of Till Date

Fees & Charges

Pre-closure Fee = 5% Of Principal Outstanding After 6th EMI.

TATA Capital
Business Loan

Details

5 - 75 Lac

17% - 20%

Loan Eligibility Can Be Done As Per Customer Requirement

Eligibility Criteria

Salaried - Age at least 23 and less than 58
Applicant Should Be Earning at Least 25,000 Per Month as Net Income

Documents

Passport Size Photo, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - Latest 3 Months Salary Slip & 6 Months Bank Statements Of Till Date
Additional Documents - Form 16 & Office I-card

Fees & Charges

Pre-closure Fee = 4% Of Principal Outstanding (Plus Applicable Tax) In 2nd Year. 3% (Plus Applicable Tax) In 3rd Year & 2.5% (Plus Applicable Tax) Afterwards
Part-payments Can Be Made Only After 12 Months. For Part Payments Between 13 To 24 Months, A Fee Of 4% Is Applicable On The Part-payment Amount. 3% Is Applicable On Payments Between 25 To 36 Months. 2% Is Applicable Post 36 Months
Part-payments Are Allowed Only Twice During The Loan Tenure And Once A Year. The Amount Cannot Exceed 25% Of The Principal Outstanding

Axis Bank
Business Loan

Details

5 Lakh - 40 Lacs

17% - 19%

Special ROI 11% to 14% for Professionals Like Dr.Ca & Etc

Eligibility Criteria

Salaried - Age at least 23 and less than 58
Monthly Income Should Be More Than 20,000
For Listed & Non Listed Both
Digital Process

Documents

Selfie, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - 3 Months Bank Statements Of Till Date

Fees & Charges

Pre-closure Fee = 5% Of Principal Outstanding After 6th EMI.

Kotak Mahindra Bank
Business Loan

Details

5- 75 Lakhs

15% - 19%

Flexible repayment methods Facility

Eligibility Criteria

Age - At Least 23 And Less Than 58
Applicants Must Be Salaried Indian Residents Working At Mncs, Public Companies Or Other Large Private Organisations
Monthly Income Should Be More Than 35,000

Documents

Passport Size Photo, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - Latest 3 Months Salary Slip & 3 Months Bank Statements Of Till Date
Additional Documents - Form 16 & Office I-card

Fees & Charges

Pre-closure Fee = 5% Of Principal Outstanding

Aditya Birla Capital
Business Loan

Details

Upto 1 Crore

16% - 21%

Flexi tenure option available from 12 to 36 months.

Eligibility Criteria

Salaried - Age at least 23 and less than 58
Self-employed - Age At Least 23 And Less Than 58, Office & House Should Be Own

Documents

Passport Size Photo, Pan Card, Aadhaar Card & Current Address Proof
Income Proof - Latest 3 Months Salary Slip & 3 Months Bank Statements Of Till Date(Pdfc)
Additional Documents - 6 Months Banking Required If Case Book For Balance Transfer With 6 Months EMI Clearance
For Self Employed Need Minimum 2 Years Of Itr Copy & 6 Months Bank Statement Of Current Account With Gst Registration Certificate

Fees & Charges

Pre-closure Fee - 5% Of Principal Outstanding

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Transparent process

Why you should choose us?

Loanmoney provides transparent and trustworthy loan services to fulfill your immediate financial needs.

Minimal Documentation

Experience fast personal loan transactions with minimal documentation requirements.

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Get Fast Approval of a personal loan by simply following a few steps.

Door-step Services

Enhance your convenience by availing loans through Loanmoney's assistance.

Hassle-free Process

Choose Loanmoney for a seamless and stress-free experience in obtaining a personal loan, simplifying the entire process.

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+91-8130-222-111

Clients words

What our clients say

We pride ourselves on providing transparent and quality service to our clients, but you don’t just have to take our word for it. Read what our clients have to say about us.

Job Varghese

Client

I am totally satisfied by loan money and the way it services its customers.... especially I thank and appreciate Ms. Somya as she is a great resource to the organization. She has been constantly assisting me from start till the end and has been a very prompt and sensible officer as she could offer the relevant deal for me.

Vishwajeet Nanaware

Client

LoanMoney is really good in providing loan services. Particularly Chanchal, my loan assistant has great skills to communicate with her clients and understand their needs. She processed my personal loan on time. The rate of interest offered was lower than the others. it was overall a good experience with 100% satisfaction.

Avlokit Kaushik

Client

This is my second time in have taken a loan from LoanMoney. Kavita has helped me a lot..very cooperative very helpful very fast. Thanku again.

FAQs for Business Loan for Machinery And Equipment

Who can apply for a Business Loan?
Business Loan is available for salaried/self-employed as well as Professionals, Employees of public/pvt Ltd companies. Every bank has individual minimum criteria for net monthly income Rs. 25,000, age between 21 to 60 years, profession, CIBIL Score, job continuity, etc.
How long will it take for my Business Loan to be processed?
Once you submit your application form and the required documents as per Bank's criteria, you can expect our approval and disbursal within 5 working days, provided everything is in order. All loan approvals are at the sole discretion of the bank.
What is the Cheapest Business Loan or Affordable Business Loan?
An Affordable or cheapest Business Loan is a loan in which not only you can get an attractive interest rate starting from 10:75% to 18%, and you can get a quick Business Loan with minimum processing fees, No hidden charges. With our easy & minimal paperwork, and flexible EMI payment options will make it a hassle-free Business Loan.
What are Nil Foreclosure Charges in Business Loan?
The term Loan foreclosure means that when a person does the full repayment of the remaining loan amount in one single & final payment instead of paying it back in multiple EMIs.

Some banks don't allow foreclosure of the loan as they won’t get the interest from the borrower and some banks allow foreclosure of the loan but they charge a certain amount from the borrower. While taking a Business Loan to try to see if there is zero foreclosure charges or nil foreclosure charges facility available for borrowers. This can save your money which you was going to pay to the bank.
What are the features of Loanmoney's Fastest Business Loan?
The features of Loanmoney's Fastest Business Loan are No Collateral or no Security, Easy Repayment options, Safety, Attractive Interest rates, It is Unsecured, Can be Obtained for any Purpose and Fast, Cheap & Reliable.
Do I need to provide any security or collateral to obtain Business Loan from Bank?
No, you don’t have to provide any security, collateral or guarantee to obtain Business Loan from Bank.