What is a VMC Machine? Meaning, Types, Uses, Price, and Financing

The main components of a VMC machine are the spindle, worktable, axes, CNC control system, and coolant system. Each component performs a specific function during machining.

Some VMC machines also include features such as automatic tool changers, additional axes, and different guide rail configurations. These features can affect the machine's capabilities, cost, and suitability for particular applications.

VMC machines are used for precision machining of components across several manufacturing industries. Common applications include milling, drilling, tapping, boring, mould making, and machining complex component geometries.

The appropriate machine depends on the component size, material, geometry, required tolerances, production volume, and machining operations.

The indicative price of a VMC machine can range from Rs. 4 lakh to Rs. 37 lakh, depending on the machine category and configuration. These figures are indicative and can vary according to specifications, features, supplier, and configuration.

Note: These figures should not be treated as fixed purchase prices. Obtain current quotations for the exact machine specification before arranging finance or placing an order.

The machine purchase price is only one part of the total investment. You should also budget for tooling, fixtures, measuring equipment, installation, training, electrical work, consumables, maintenance, software, transportation, insurance, and applicable taxes.

For example, consider Prakash, aged 38, based in Pune, who operates a manufacturing business with annual business income of Rs. 24 lakh and a CIBIL score of 730. He is evaluating a VMC priced at Rs. 10 lakh.

An illustrative initial budget could be:

Note: This is a worked planning example, not a standard market quotation. Actual tooling, installation, electrical, transport, maintenance, and other costs will depend on the machine, supplier, workshop, and operating requirements.

You should assess the application, machine specifications, total cost of ownership, and vendor support before purchasing a VMC. Consider these factors:

• Application: Identify the components you plan to manufacture and the operations they require.
• Machine capacity: Check table size, working envelope, spindle specifications, axis travel, and permissible workpiece weight.
• Precision requirements: Match the machine's capabilities with the tolerances required for your components.
• Production volume: Consider whether the machine can support your expected workload.
• Tooling: Check the tooling and automatic tool-change requirements for your applications.
• Installation: Assess floor space, electrical requirements, access, foundation requirements, and other installation conditions.
• Vendor support: Review installation assistance, operator training, maintenance support, and availability of spare parts.
• Total cost: Include machine purchase, tooling, installation, consumables, maintenance, power, and financing costs.

The documents required for financing depend on the lender and your application. For a Bajaj Finance Business Loan, the required documents include KYC documents, PAN, proof of business ownership, and other financial documents.

You should also keep relevant machine-purchase records available, such as:

• VMC supplier quotation.
• Equipment specification sheet.
• Proforma invoice, where applicable.
• Business ownership documents.
• PAN and KYC documents.
• Bank statements and financial records, where required.
• Income Tax Returns (ITRs), where applicable.
• Business registration or tax documents, where relevant.

The lender may request additional documents during assessment.

A Bajaj Finance Business Loan can provide funding for eligible established businesses with requirements such as equipment purchases, working capital, technology upgrades, or business expansion. The current loan amount is Rs. 2 lakh to Rs. 80 lakh, subject to eligibility and assessment.

A VMC investment can therefore be assessed alongside the business's broader funding requirement. For example, if your machine quotation is Rs. 10 lakh and you also require funds for tooling, installation, and working capital, calculate the total requirement before deciding the loan amount.

A Bajaj Finance Business Loan currently offers repayment tenures from 12 months to 96 months. The business loan interest rate is 14% to 23.50% per annum, and processing fees can be up to 4.72% of the loan amount, inclusive of applicable taxes.

A Bajaj Finance Business Loan can be considered by eligible established businesses that meet the applicable criteria. Current criteria include Indian nationality, self-employed status, business vintage of at least 3 years, a CIBIL score of 650 or higher, and the applicable age requirement of 21 to 80 years. The upper age requirement applies at loan maturity.

If your manufacturing business meets these requirements, you can assess financing for eligible equipment, working capital, technology, or expansion requirements. The sanctioned amount and applicable terms remain subject to the lender's assessment.

You can apply online by providing your personal, business, banking, and loan requirement details. Follow these steps:

• Start the application: Visit the Bajaj Finance Business Loan page, select ‘Check Loan Offer’, and enter your mobile number and OTP.
• Provide your details: Enter your name, PAN, date of birth, PIN code, business information, and banking details.
• Choose your loan requirement: Enter the required loan amount and select Term Loan, Flexi Dropline Loan, or Flexi Hybrid Term Loan.
• Select the repayment tenure: Choose a repayment period from 12 months to 96 months.
• Review and submit: Check the information provided and submit your application for assessment.