2 min read
25 May 2021

Good machinery can help your business achieve better productivity, streamline operations and make the best use of time and resources. This, in turn, allows you to boost your profitability with the help of economies of scale. But, buying or leasing new machinery can be expensive. So, make use of the Bajaj Finserv Machinery Loan, which allows you to finance new machinery and equipment more affordably.
Here are some ways it helps you do this:

Providing you with a high loan amount to meet your machinery costs

Your need for cash varies depends on the nature of the machinery, and can also fluctuate depending on market availability. However, you can’t let your business’s productivity be limited by costs. So, whether you need to lease, purchase, repair or upgrade specialised machinery, this loan offers you a high loan limit up to 80 lakh to fund your requirements with ease.

Offering you a Flexi loan facility for unpredictable machinery expenses

Let’s assume that you run a manufacturing business, and need funds to fulfil a large order from an overseas client. This requires you to purchase specialised machines and additional equipment. You also know that in the next few months, you will need to get your factory conveyor belt repaired. You can address all these needs when they arise by opting for a Flexi loan facility

It helps you deal with unpredictable future expenses along with current needs without making new applications. It gives you a particular amount for a specific tenor, allowing you to make multiple withdrawals based on your requirements. You only pay interest on the amount used, and not the entire sanctioned sum. You can further manage cash flow better by choosing to pay only the interest as EMIs and repay the principal at the end of the tenor. When your business has excess funds, you can also make prepayments at no charge and even re-avail the prepaid amount if you need it.

Allowing you to file a quick online application to get urgent access to cash

If your business is machinery intensive, a sudden breakdown will mean you need cash fast. Lenders like Bajaj Finserv allow you to apply for machinery loans online to save you time. Once approved online, they offer doorstep pickup of documents for further verification. Just two documents are required to keep this application process as stress-free as possible. Also, they sanction your loan using minimal documents to speed up the process. Further, these loans are collateral-free, which means you don’t have to arrange for any business assets as security. This helps you apply faster and helps Bajaj Finserv approve your loan quicker too.

Giving you online account access to keep track of your loan

This loan gives you access to an online customer portal, Experia that enables you to view details of your loan like the loan balance, interest statements and transaction details, round the clock. It thus offers maximum convenience.

Offering you flexible tenor for comfortable repayment

Offering you a repayment tenor from 12 months to 96 months, this loan allows you to pick a tenor to suit your business income and sales cycle. Added to this, you make part prepayments to further reduce your monthly EMIs. These benefits allow you to finance business machinery with ease, and help you ramp up production to encash profits.

Additional read: Benefits of machinery loans

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