Construction Equipment Loan
Heavy machinery, without the heavy upfront cost.
Buy backhoe loaders, excavators, cranes, road rollers, transit mixers and other machinery without blocking your working capital. We arrange funding for new and used equipment for contractors of every size, often through OEM-linked finance schemes.
- Funding
- Up to 90% of equipment cost
- Tenure
- Up to 5 years
- Security
- Equipment is hypothecated
- Processing
- 3 to 7 working days
Choose the construction equipment loan that fits you
Not sure which one is right? Tell us your situation and we'll recommend the best fit.
New equipment loan
Excavators, loaders, cranes, pavers and more from leading brands.
Used equipment loan
Pre-owned machinery funded on valuation and hours of use.
Refinance
Raise funds against machinery you already own.
Fleet expansion
Funding for multiple machines for growing contractors and rental firms.
Why people choose our construction equipment loan advice
- EMIs structured around project timelines
- Tie-ups with major OEMs and dealers
- First-time buyer schemes
- Quick turnaround on repeat purchases
Who can apply, and what it costs
We check your eligibility before applying, so there are no surprises and no unnecessary hits to your credit score.
- Contractors and infrastructure companies
- Equipment rental businesses
- Mining and quarry operators
- First-time buyers with work orders
- Processing fee and documentation charges
- Mandatory equipment insurance
- Foreclosure charges on some loans
Construction Equipment Loan interest rate: what decides it?
Construction Equipment Loan interest rates change with the market and differ from lender to lender, and even between two applicants at the same bank. These are the factors that decide the rate you are offered.
What it depends on
- Credit (CIBIL) score: 750 and above usually gets the best rates
- Income, job or business stability and employer profile
- Existing EMIs compared with your income (FOIR)
- Loan amount, tenure and, for secured loans, the loan-to-value ratio
- Fixed or floating rate, and the lender's benchmark (repo / EBLR / MCLR)
- Processing fees and offers running at that lender
How to get a lower rate
- Compare several banks and NBFCs before applying; we do this for you
- Improve your credit score and clear small dues first
- Add an earning co-applicant to raise eligibility
- Negotiate the processing fee, not only the interest rate
- Review your loan every year and switch if a better rate is available
Documents required for Construction Equipment Loan
Choose your applicant type to see the checklist. Keep self-attested copies ready; we'll collect and verify them for you.
Document Proof
8 items- Aadhaar Card
- PAN Card
- Voter Card
- Driving Licence
- Utility Bill (Electricity / Water)
- Passport
- Quotation of the Equipment
- Work Orders / Contracts (if any)
Income Proof
4 items- Income Tax Return (2 yrs)
- Bank Statement (12 months)
- Current Salary Slip (if salaried)
- Form 16 (if salaried)
Document Proof
9 items- Utility Bill (Electricity / Water / Telephone)
- Bank Statement
- GST Certificate
- Udyam Certificate
- Aadhaar Card
- PAN Card
- Passport
- Quotation of the Equipment
- Work Orders / Contracts (if any)
Income Proof
3 items- Income Tax Return (2 yrs)
- GSTR (3 yrs)
- Bank Statement (12 months)
Document Proof
8 items- Utility Bill (Electricity / Water)
- Bank Statement
- GST Certificate
- Company PAN Card
- MOA / AOA / COI
- Udyam Certificate
- Quotation of the Equipment
- Work Orders / Contracts (if any)
Income Proof
5 items- Income Tax Return (2 yrs)
- GSTR (3 yrs)
- Bank Statement (12 months)
- Audited Balance Sheet (2 yrs)
- Complete Balance Sheet with Audit Report (3 yrs)
The exact list can vary by lender and your profile. Not sure what applies to you? Our advisor will confirm in one call.
From first call to disbursal
Scroll through the steps to see what we do at each stage.
Expert tips before you apply
- 1Share your current work orders; they strengthen a first-time application.
- 2Match the loan tenure to the machine's earning life.
- 3Check OEM schemes for subsidised rates during festive or year-end offers.
Construction Equipment Loan: common questions
Talk to an expert today
Share a few details and we will call you back. The first consultation is free.
- Call us+91 92122 66375
- WhatsAppChat with an advisor
- Office hoursMon to Sat, 10:00 am to 7:00 pm
Request a call back
We usually respond the same working day.
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