Equipment & Machinery Loan ✔ Equipment Financing of upto 30 Lakh within 24 hours ✔ Nominal Machinery Loan Interest Rate ✔ Minimum Documentation ✔ Collateral Free Loans ✔ Check Your Eligibility Online ✔ Apply Now & Avail Exciting Offers

Equipment Machinery Loan: Features and Benefits

Machinery loans are usually taken to either repay a faulty or broken machine or upgrade to a better version. Some unique benefits of taking machinery / equipment loan from Bajaj Finserv are:

  • Loans up to ₹ 30 lakh - Bajaj Finserv offers a Machinery loan of up to ₹ 30 lakh to help companies continue running their business without any financial roadblocks.
  • Unsecured Machinery and Equipment Loan - No need for a guarantor or any collateral to avail a Women’s Business Loan. Transparent policies with no hidden clauses.
  • Line of Credit - A unique and innovative offering that allows you to manage your cash flows in a smarter and more effective manner. Line of credit available of up to Rs. 30 lakh.
    Benefits of a Line of Credit:
    • Pay interest-only as monthly installment as compared to a term loan.
    • Instant online facility to part prepay and withdraw (drawdown) through customer portal (Experia)
    • No limit on number of part pre-payments. No charges for part pre-payment
    • No charges for withdrawal (drawdown)
    • Flexibility to convert to term loan as per convenience
    • Bullet repayment option
    • No collateral/security required
    • No guarantors needed
  • Pre-approved offers - On a regular basis, we introduce pre-approved machinery loan schemes which may include a top-up loan or discount in interest rates, etc..

Online access - On availing a loan for machinery or equipment from Bajaj Finserv, you will get online account access to all your loan information.

Fees & Charges

We have an in-house business loan calculator to help you check your loan interest rate. The other charges are:

  • Processing fees - 2% of the loan amount will be deducted at the time of disbursal of approved loan amount
  • EMI bounce charges - Rs.1000 will be charged in the subsequent month for every bounce
  • Penal interest - 2.00% p.m. overdue charges will be levied basis 360 days per year
  • Foreclosure Charges - 4% plus applicable taxes on the current principal outstanding
  • Part prepayment charges - 2% plus applicable taxes on part payment amount paid.
    The part payment made should be more than 1 EMI. There are no part payment charges for flexi accounts.

Eligibility and documents required

The following entities are eligible for Machinery or Equipment loan from Bajaj Finserv:

  1. Limited or Private Limited Company
  2. Partnership or Proprietorship Firm
  3. Chartered Accountant / Self Employed Professional

Here’s a list of the customer profiles that we consider:

  • Self Employed Professionals (SEP) - Allopathic doctors, chartered accountants, company secretaries, self-employed engineers and architects who are practicing their profession. Proof of qualification to be documented.
  • Self Employed Non Professionals (SENP) - Traders and manufacturers, Service providers, Retailers,
  • Entities - Partnerships, Limited Liability Partnership, Private Limited and closely held Limited companies.
  • Other constitution types depending on their profile on a case to case basis.

Documents required

  • KYC Documents
  • Business Vintage of 3 Years
  • Business proof: Certificate of practice
  • Bank Account statement of last month
  • Proof of residence or business/ office

How to Apply

If you’re looking to apply for a Machinery or Equipment Loan, online with Bajaj Finserv, click here.

If you want us to get back to you, just SMS BL to 9773633633.

FAQs



Q1. What is the range of loan amount I can avail of?

A.With Bajaj Finserv, you can avail a Machinery or Equipment Loan ranging from Rs.3 lakh to Rs.30 lakh.


Q2. What is the range of tenor available with these loans?

A.You can avail this loan for a period starting from 12 months to 96 months or 1 year to 8 years.


Q3. Is the rate of interest fixed or floating?

A. We offer fixed rate of interest.


Q4. What is the mode of repayment?

A.You can repay through either Post Dated Cheques or ECS.


Q5. What do I need to do to avail of a Business Loan online?

A.Click the ‘Apply Now’ button on the banner above Or SMS PSBL to 57578 or call us on 1800 2094151


Q6.Are there any Foreclosure and Part prepayment charges?

A.

  • Foreclosure charges - 4% plus applicable taxes on the current principal outstanding
  • Part payment charges - 2% plus applicable taxes on part payment amount paid


Nil Part payment charges for Pure FLEXI and Flexi loans.

Foreclosure/Part payment for all non-flexi normal term loans can be done post clearance of 1st EMI.

For all Pure FLEXI and Flexi loans, part payment can be made anytime & foreclosure can be done post clearance of 1st EMI.

Line of credit facility

Business loan allows you to avail ‘line of credit’ facility, also known as ‘flexi line’. Line of Credit is a unique credit facility given to our loan applicants, wherein you are approved for certain limit of credit/ loan, for a said duration. The monthly instalment for Line of Credit will consist only of the interest amount and will not have a principal component on a monthly basis. The principal amount of loan is to be repaid at the end of the tenure of the facility. Hence, it acts as a big saving arm to your cash flows.

Benefits of Line of Credit

  • Your monthly instalment is only the interest amount charged for the month, unlike any other term loan.
  • Access all your loan related information or transactions online at our customer portal
  • You can opt to part- prepay your loan amount, anytime of the year, with no additional charges.
  • No additional cost levied on withdrawals/ drawdown
  • Convert your term loan into line of credit, anytime of the year
  • Bullet repayment option available at the end of the year.

Contact Us

For existing customers

Follow these simple steps to use our toll free IVR

  • Dial 020 3957 4151
  • Enter your 7-digit BFL Customer ID
  • Select from various IVR options
  • Access IVR in 10 languages : English, Hindi, Bengali, Marathi, Punjabi, Gujarati, Tamil, Telugu, Kannada and Malayalam

Email

Write to us at wecare@bajajfinserv.in with your queries

SMS updates

SMS <<keyword below>> to +91 92275 64444
GETEMAIL for your current email address
UPDEMAIL <New email> to update your email address
GETADD for your current registered email address
CUSTID to know your customer ID
LAN to know your Loan Account Number
EMI LAN to know your loan/ EMI details
EXPERIA to know your Experia user ID and password
PIN to know your 4 digit EMI card PIN
FEEDBACK to give your valuable feedback
SAT Y Give a positive feedback
SAT N to give a negative feedback
(Your mobile number should be registered with us for this facility). Standard SMS Charges applicable

Visit our branch to:

  • Change mode of payment (Swapping)
  • Purchase / cancel an Insurance Policy
  • Foreclose your loan
  • Claim a refund

To know the address of your nearest branch click here


Follow these simple steps to log on to our Customer Portal (Experia)

  • Visit www.bajajfinserv.in
  • Log in using your username / mobile number / email id and password
  • Access all loan details
  • Manage your loans
  • View special offers