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What is Machinery Loan and How does it work?

What is Machinery Loan and How does it work?

Almost all medium and small production enterprises need money to buy the latest machinery for better and greater productivity. So a loan from any reputed bank or NBFC to purchase machinery is called a Machinery Loan. The companies can plan to purchase latest machinery without straining their business accounts all at the same time and also repay the loan amount without hampering the normal operations of the business. All this is offered by Bajaj Finserv without the requirement of collateral.

With Bajaj Finserv, there are other attractive features of Machinery Loans like line of credit facility and pre-approved loans. The loan amount offered goes up to Rs. 30 lakh, thereby allowing ample scope for the betterment of your company. The low interest rate for Machinery Loan offered by Bajaj Finserv is fixed and the term of loan ranges from 12 months to 96 months i.e. 1 year to 8 years.

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