Overview of Machinery Loan in Bawal, Rewari
Machinery loans in Bawal, Rewari enable businesses and farmers to purchase or upgrade equipment for industrial, agricultural, or manufacturing purposes. In 2025, these loans start at 8.5% p.a., with amounts up to ₹1 crore, depending on the equipment cost and business scale. Lenders like ICICI Bank, Axis Bank, and SIDBI in Bawal, Rewari offer tailored financing, often with government-backed schemes like MSME or farm mechanization programs. Loanpao simplifies the process with lender comparisons, eligibility checks, and online applications, ensuring disbursal within 7–10 days.
Eligibility Criteria for Machinery Loan in Bawal, Rewari
| Criteria | Details |
|---|---|
| Applicant Type | Business owners, farmers, or MSMEs |
| Age | 21–65 years |
| Business/Farming Experience | Minimum 2 years in operation |
| Residence | Resident of Bawal, Rewari or nearby areas |
| Credit Score | 650+ preferred for better terms |
Documents Required for Machinery Loan in Bawal, Rewari
- Identity Proof: Aadhaar, PAN Card, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement for Bawal, Rewari address.
- Business Proof: GST registration, MSME certificate, or farming license.
- Equipment Details: Proforma invoice or quotation from supplier.
- Financial Documents: ITR (2 years), bank statements (6 months).
- Collateral Documents (if required): Property or land papers.
Benefits of Machinery Loan in Bawal, Rewari
- Competitive interest rates starting at 8.5% p.a. in 2025.
- Loan amounts up to ₹1 crore for equipment purchases.
- Flexible repayment tenures from 1 to 7 years.
- Support for both industrial and agricultural machinery.
- Fast disbursal within 7–10 days in Bawal, Rewari.
Factors Affecting Machinery Loan in Bawal, Rewari
Interest Rate
Rates range from 8.5% to 14% p.a., based on credit score, loan amount, and collateral.
Loan Amount
Up to 80% of the equipment cost, capped at ₹1 crore.
Credit Score
A score of 650+ ensures better rates; lower scores may require collateral.
Collateral
Larger loans may require property or equipment as security; smaller loans can be unsecured.
How to Apply for a Machinery Loan in Bawal, Rewari
Follow these steps to apply for a machinery loan in Bawal, Rewari through Loanpao:
- Visit loanpao.in and select "Machinery Loan in Bawal, Rewari."
- Complete the online application with personal and business details (name, Bawal, Rewari address, business type).
- Upload required documents (ID, business proof, equipment invoice).
- Compare offers from lenders like ICICI Bank, Axis Bank, and SIDBI in Bawal, Rewari.
- Receive approval and funds within 7–10 days.
Loan Eligibility for Machinery Loan in Bawal, Rewari
Check your eligibility for a machinery loan in Bawal, Rewari with Loanpao’s tool:
- Enter personal details (age, Bawal, Rewari address).
- Provide business details (type, years in operation, revenue).
- Submit equipment details (type, cost, supplier).
- Specify loan amount and purpose (e.g., tractor, CNC machine).
Loanpao will evaluate your eligibility and recommend the best machinery loan offers in Bawal, Rewari.
Check Eligibility NowTrack Your Machinery Loan Application in Bawal, Rewari
Loanpao offers a seamless tracker for your machinery loan application:
- Enter your application ID on the Loanpao Tracker page.
- Receive real-time updates on status (e.g., under review, approved, disbursed).
- Get notifications for fund disbursal in Bawal, Rewari.
- Contact Loanpao support for assistance with delays in Bawal, Rewari.
Machinery Loan Comparison in Bawal, Rewari
Compare machinery loan offers from top lenders in Bawal, Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| ICICI Bank | 8.5% p.a. | Up to ₹1 crore | 1–7 years | 1% of loan amount |
| Axis Bank | 9% p.a. | Up to ₹75 lakh | 1–5 years | 1.5% of loan amount |
| SIDBI | 8.75% p.a. | Up to ₹50 lakh | 1–6 years | 0.75% of loan amount |
Frequently Asked Questions
Machinery loans can finance agricultural equipment (e.g., tractors, harvesters) or industrial machinery (e.g., CNC machines, lathes) in Bawal, Rewari.
Machinery loans are typically processed within 7–10 days in Bawal, Rewari.
Loan amounts can go up to ₹1 crore, covering up to 80% of the equipment cost.
Collateral may be required for larger loans, but smaller loans can be unsecured, especially under MSME schemes.
Startups with at least 2 years of operation and valid business proof can apply for machinery loans in Bawal, Rewari.
Yes, schemes like MSME financing, farm mechanization loans, and SIDBI’s direct credit support machinery purchases in Bawal, Rewari.