Overview of Machinery Loan in Rewari
Rewari, an emerging industrial hub in Haryana, offers machinery loans to support businesses in acquiring equipment for manufacturing, construction, or agriculture. These loans range from ₹5 lakh to ₹50 crore, with interest rates starting at 8.5% p.a. Lenders like HDFC Bank, ICICI Bank, and SIDBI provide quick disbursal within 7–15 days. Loanpao streamlines the process with online applications and eligibility checks for Rewari businesses.
Eligibility Criteria for Machinery Loan in Rewari
| Criteria | Details |
|---|---|
| Age | 21–65 years |
| Business Type | Proprietorship, partnership, or company registered in Rewari |
| Credit Score | 700+ preferred; 650+ may qualify with higher rates |
| Business Turnover | Minimum ₹10 lakh annually |
| Business Vintage | Minimum 2 years of operations |
Documents Required for Machinery Loan in Rewari
- Identity Proof: Aadhaar, PAN Card, or Passport.
- Address Proof: Utility bill, rental agreement, or Aadhaar (Rewari-specific).
- Business Proof: GST registration, shop act license, or Udyam certificate.
- Financial Documents: ITR (2 years), balance sheet, profit & loss statement.
- Bank Statements: Last 12 months showing business transactions.
- Machinery Quotation: Invoice or quote from supplier.
Benefits of Machinery Loan in Rewari
- Loan amounts from ₹5 lakh to ₹50 crore for equipment purchases.
- Competitive interest rates starting at 8.5% p.a.
- Flexible repayment tenures from 1 to 10 years.
- Quick disbursal within 7–15 days in Rewari.
- Option for secured or unsecured loans based on business profile.
Factors Affecting Machinery Loan in Rewari
Credit Score
Higher scores (700+) secure lower rates; lower scores may increase costs.
Business Financials
Strong turnover and profitability improve approval chances.
Machinery Type
Loans for high-value or specialized equipment may have stricter terms.
Collateral
Secured loans with collateral (e.g., property) offer lower rates.
How to Apply for a Machinery Loan in Rewari
Follow these steps to apply for a machinery loan in Rewari through Loanpao:
- Visit loanpao.in and select "Machinery Loan in Rewari."
- Fill out the online application with personal and business details.
- Upload documents (ID proof, business proof, financials, machinery quotation).
- Compare offers from lenders like HDFC Bank, ICICI Bank, and SIDBI in Rewari.
- Get approval and funds disbursed within 7–15 days.
Loan Eligibility for Machinery Loan in Rewari
Check your eligibility for a machinery loan in Rewari with Loanpao’s tool:
- Enter business details (turnover, vintage, type).
- Provide credit score and financial details.
- Submit Rewari address proof and machinery quotation.
- Include bank statements for accurate assessment.
Loanpao will evaluate your eligibility and recommend the best machinery loan offers in Rewari.
Check Eligibility NowTrack Your Machinery Loan Application in Rewari
Loanpao offers a seamless tracker for your machinery loan application:
- Submit your application ID on the Loanpao Tracker page.
- Monitor real-time status updates (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Rewari.
- Contact Loanpao support for assistance with delays in Rewari.
Machinery Loan Comparison in Rewari
Compare machinery loan offers from top lenders in Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 8.5% p.a. | ₹5 lakh–₹25 crore | 1–7 years | 0.5–2% of loan amount |
| ICICI Bank | 8.75% p.a. | ₹5 lakh–₹30 crore | 1–8 years | 0.75–2% of loan amount |
| SIDBI | 8.0% p.a. | ₹10 lakh–₹50 crore | 1–10 years | 0.5–1.5% of loan amount |
Frequently Asked Questions
Financing the purchase of equipment for manufacturing, construction, or agricultural purposes.
Disbursal typically takes 7–15 days after document verification in Rewari.
A score of 700+ is preferred; 650+ may qualify with higher rates or collateral.
Yes, startups with at least 1 year of operations and strong financials may qualify.
Collateral is optional for smaller loans; larger loans may require assets like property or machinery.