Construction Equipment Loans
With greater thrust on Infrastructure development, we cater to the growing needs of our customers with an array of attractive finance schemes to suit their varying requirements. We offer solutions to acquire construction equipment to customers engaged in infrastructure development activities; such as roads, power, ports & shipping, irrigation, urban infrastructure development, mines and quarry, oil and gas, and other infrastructure sectors.
Features & Benefits
Features:
- We offer customized and flexible finance solutions for acquiring a whole range of construction equipment, such as loader backhoe, excavators, wheeled loaders, cranes, fork lift trucks, concrete machineries and road equipments
- Loan for purchase of new construction equipment
- Loan for used construction equipment (refinance and repurchase)
- Top-up loans on existing accounts
- Customized general insurance for construction equipments
Benefits:
- Up to 100% finance on asset cost
- Tenure of loan up to 4 years
- Simple documentation and quick processing
- Customized EMI structures
- Competitive rate of interest
Eligibility and Documentation
Eligibility:
- Entrepreneurs who are new to construction and earthmoving business
- Hirers of construction, earthmoving and material handling equipments & plant hirers
- Small and medium contractors of government and private agencies, i.e., irrigation, public works department, national and state highways etc
- Small and medium quarry/mine owners/operators
- Contractors of various civic and municipal bodies
- Waste management contractors
- Small and medium industries requiring construction and material handling equipments for captive usages
Documentation:
- Duly filled and signed loan application form
- KYC (know your customer) documents - utility bills, photo ID cards
- Financial statements for the last two years, complete with schedules.
- Income tax returns (ITR) for the last two years
- Bank statement for the last six months
- List of plant and machineries owned by the individual/entity
- Proprietorship declaration, partnership deed, memorandum/association of article (MOA/AOA), board resolution, as applicable
Application Process
It takes just a few simple steps to get a loan from us. Apply today and manage your finances easily.