Overview of Machinery Loan in Gurugram
Machinery loans in Gurugram enable businesses to purchase or upgrade equipment, boosting productivity in industries like manufacturing and agriculture. In 2025, lenders like SBI, ICICI Bank, and Bajaj Finance offer machinery loans in Gurugram with interest rates starting at 9% p.a. Loanpao helps you compare offers, check eligibility, and apply for machinery loans tailored to Gurugram’s industrial hubs like IMT Manesar and Udyog Vihar.
Eligibility Criteria for Machinery Loan in Gurugram
| Criteria | Details |
|---|---|
| Business Type | Proprietorship, partnership, or private limited company |
| Residency | Business registered in Gurugram |
| Business Vintage | Minimum 2 years of operation |
| Turnover | Minimum ₹50 lakh annually |
| Credit Score | Minimum 700 |
| Collateral | Machinery or other assets (for secured loans) |
Documents Required for Machinery Loan in Gurugram
- Identity Proof: Aadhaar Card, PAN Card, or Passport of business owner.
- Address Proof: Utility bill or GST certificate (Gurugram address).
- Business Proof: GST registration, Udyog Aadhaar, or company registration.
- Financials: ITR and balance sheet for 2 years.
- Bank Statements: Last 12 months of business account.
- Machinery Details: Quotation or invoice of equipment to be purchased.
Benefits of Machinery Loan in Gurugram
- Competitive interest rates starting at 9% p.a. in 2025.
- Loan amounts up to ₹5 crore for equipment purchases.
- Flexible repayment tenure from 1 to 7 years.
- Fast approval and disbursal within 7-10 days.
- Tax benefits on interest paid under Section 36(1)(iii).
Factors Affecting Machinery Loan in Gurugram
Interest Rate
Rates range from 9% to 15%, based on credit score and collateral.
Loan Amount
Up to 80% of machinery cost or collateral value.
Credit Score
A score above 700 ensures better rates and approval.
Business Financials
Strong revenue and profitability improve eligibility.
How to Apply for a Machinery Loan in Gurugram
Follow these steps to apply for a machinery loan in Gurugram through Loanpao:
- Visit loanpao.in and select "Machinery Loan in Gurugram."
- Fill out the online application with business and machinery details.
- Upload required documents (ID, financials, machinery quotation).
- Submit the application and get approval within 48 hours.
- Receive funds within 7-10 days after verification.
Loan Eligibility for Machinery Loan in Gurugram
Check your eligibility for a machinery loan in Gurugram with Loanpao’s eligibility tool:
- Enter business details (turnover, vintage).
- Provide Gurugram business address for localized offers.
- Specify machinery details (type, cost).
Loanpao will instantly assess your eligibility and suggest the best machinery loan offers in Gurugram.
Check Eligibility NowTrack Your Machinery Loan Application in Gurugram
Loanpao provides a seamless tracker for your machinery loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on your application status (e.g., verification, approved, disbursed).
- Receive notifications for disbursal updates in Gurugram.
- Contact Loanpao support for assistance with delays in Gurugram.
Machinery Loan Comparison in Gurugram
Compare machinery loan offers from top lenders in Gurugram:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 9% p.a. | Up to ₹5 crore | 1 to 7 years | 0.75% of loan amount |
| ICICI Bank | 10% p.a. | Up to ₹3 crore | 1 to 5 years | 1% of loan amount |
| Bajaj Finance | 11% p.a. | Up to ₹2 crore | 1 to 4 years | 1.5% of loan amount |
Frequently Asked Questions
A machinery loan is financing for businesses in Gurugram to purchase or upgrade equipment for industrial or agricultural use.
Interest rates start at 9% p.a., depending on the lender and credit profile.
Machinery loans are typically disbursed within 7-10 days after approval in Gurugram.
Yes, a minimum credit score of 700 is typically required.
Loan amounts can go up to ₹5 crore, depending on the lender and machinery cost.
Yes, most lenders allow early repayment with minimal or no prepayment charges.
Collateral like machinery or other assets is required for secured loans but not for smaller unsecured loans.
Top lenders include SBI, ICICI Bank, and Bajaj Finance in Gurugram.
Yes, Loanpao offers an online application process for machinery loans in Gurugram.
Processing fees range from 0.75% to 1.5% of the loan amount, depending on the lender.