About Machinery Loan
Loanpao’s Machinery Loans in Delhi, India, enable businesses to purchase or upgrade manufacturing and construction equipment. With low interest rates and quick disbursal, we help you boost productivity and expand operations seamlessly.
Why Choose Loanpao?
- Interest Rates starting at 8% p.a.
- Loan Amount from ₹5 Lakh to ₹2 Crore
- Tenure up to 7 years
- Disbursal within 3–7 days
- Minimal documentation
- Collateral-free options for eligible businesses
- Customized repayment schedules
- No hidden charges
Eligibility Criteria
| Criteria | Requirement |
|---|---|
| Age | 21–60 years |
| Business Type | Proprietorship, Partnership, Pvt. Ltd. |
| Business Vintage | Minimum 2 years |
| Annual Turnover | ₹20 Lakh or above |
Documents Required
- KYC: Aadhaar, PAN, Business Registration
- Financials: ITR, Profit & Loss (2 years)
- Bank Statements: Latest 6 months
- Machinery Quotation: Equipment details and cost
Interest Rates
| Bank/Lender | Interest Rate | Processing Fee |
|---|---|---|
| SBI | 8.2% p.a. | 1% or ₹15,000 |
| HDFC Bank | 8.5% p.a. | 0.5% or ₹10,000 |
| ICICI Bank | 8.3% p.a. | 0.75% or ₹12,000 |
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How to Apply
- Fill out the online application with business details.
- Submit KYC, financials, and machinery quotation.
- Undergo credit and equipment assessment.
- Review and sign the loan agreement.
- Receive funds within 3–7 days.
Frequently Asked Questions
What is a Machinery Loan?
A Machinery Loan is financing for businesses to purchase or upgrade equipment for manufacturing, construction, or other operations.
Who can apply?
Business owners aged 21–60, with at least 2 years of operation and ₹20 Lakh turnover, can apply.
Is collateral required?
Collateral-free options are available for eligible businesses; otherwise, equipment or assets may be required.
What equipment can be financed?
Loans cover manufacturing machines, construction equipment, and other business-related machinery.