Overview of Machinery Loan in Manesar
A machinery loan in Manesar supports businesses and farmers in acquiring equipment for manufacturing, agriculture, or industrial purposes. In 2025, lenders like SIDBI, HDFC, and ICICI offer machinery loans in Manesar with interest rates starting at 8% per annum. Loanpao helps you compare offers, check eligibility, and apply seamlessly for machinery loans tailored to Manesar’s industrial and agricultural sectors.
Eligibility Criteria for Machinery Loan in Manesar
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Must be a resident of Manesar or nearby areas with valid address proof |
| Business Type | MSME, agricultural business, or industrial unit in Manesar |
| Income | Minimum annual turnover of ₹10 lakh or proof of agricultural income |
| Credit Score | Minimum 700 preferred |
| Bank Account | Active business bank account in Manesar |
Documents Required for Machinery Loan in Manesar
- Identity Proof: Aadhaar Card, PAN Card, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Manesar address).
- Business Proof: GST registration, MSME certificate, or agricultural income proof.
- Income Proof: ITR (last 2 years) or crop sale receipts.
- Bank Statement: Last 6 months’ business bank statements.
- Quotation: Machinery purchase quotation from supplier.
- Photographs: 2 passport-sized photographs.
Benefits of Machinery Loan in Manesar
- Competitive interest rates starting at 8% per annum in 2025.
- Loan amounts up to ₹50 lakh based on machinery cost and business needs in Manesar.
- Flexible repayment tenure of up to 5 years.
- Subsidies available under schemes like MSME Samadhaan in Manesar.
- Quick disbursal for urgent equipment purchases.
Factors Affecting Machinery Loan in Manesar
Interest Rate
Rates range from 8% to 14%, depending on lender, loan type, and government subsidies.
Loan Amount
Lenders offer up to ₹50 lakh based on machinery cost and business turnover in Manesar.
Credit Score
A score above 700 ensures better terms; lower scores may increase rates.
Business Stability
At least 2 years of business operations in Manesar increases loan eligibility.
How to Apply for a Machinery Loan in Manesar
Follow these steps to apply for a machinery loan in Manesar through Loanpao:
- Visit loanpao.in and select "Machinery Loan in Manesar."
- Fill out the online application form with your details (name, Manesar address, business details).
- Upload required documents (Aadhaar, business proof, machinery quotation).
- Compare offers from top Manesar lenders like SIDBI, HDFC, and ICICI.
- Get approval and funds disbursed within 5-10 days in Manesar.
Loan Eligibility for Machinery Loan in Manesar
Check your eligibility for a machinery loan in Manesar with Loanpao’s eligibility tool:
- Enter your business turnover or agricultural income details.
- Provide machinery purchase quotation and business registration details in Manesar.
- Specify your credit score.
- Include your Manesar address for localized offers.
Loanpao will instantly assess your eligibility and suggest the best machinery loan offers in Manesar.
Check Eligibility NowTrack Your Machinery Loan Application in Manesar
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., under review, approved, disbursed).
- Receive notifications for disbursal updates in Manesar.
- Contact Loanpao support for assistance with delays in Manesar.
Machinery Loan Comparison in Manesar
Compare machinery loan offers from top lenders in Manesar:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SIDBI | 8% p.a. | Up to ₹50 lakh | Up to 5 years | 0.75% of loan amount |
| HDFC | 9% p.a. | Up to ₹40 lakh | Up to 4 years | 1% of loan amount |
| ICICI | 9.5% p.a. | Up to ₹30 lakh | Up to 4 years | 1.25% of loan amount |
Frequently Asked Questions
Machinery loans in Manesar cover agricultural equipment, industrial machines, and manufacturing tools.
Interest rates start at 8% per annum, depending on the lender and scheme.
Machinery loans in Manesar can be disbursed within 5-10 days after application submission.
A credit score above 700 is preferred, but some lenders may consider lower scores with additional collateral.
The maximum tenure for a machinery loan in Manesar is up to 5 years.
Yes, most lenders in Manesar allow prepayment with minimal or no charges after 6 months of EMIs.
Missing an EMI can lead to late fees, a negative impact on your credit score, and potential legal action by the lender.
Top lenders in Manesar for machinery loans include SIDBI, HDFC, and ICICI, offering competitive rates and subsidies.
Yes, Loanpao offers a fully online application process for machinery loans in Manesar.
The maximum loan amount for a machinery loan in Manesar can go up to ₹50 lakh, depending on machinery cost and business needs.