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Industrial Equipment Finance

3 unique variants | Up to Rs. 15 Crore | Tenure up to 96 months
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Trusted by 3 lakh+ customers

Industrial Equipment Finance
3 unique variants | Up to Rs. 15 Crore | Tenure up to 96 months
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Quick approval

Your loan application will be approved in 48 hours* of submission.

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3 Unique variants

Choose from our EMI Holiday, Principal MORAT and Term Loan variants

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Minimal Documentation

To apply for our industrial equipment finance, you need three main documents. 1. Your KYC documents as proof of identity and address. 2. Your PAN card. 3. Proof of business ownership. Any additional financial documents required will be communicated based on your application details.

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Flexible Loan Repayment

Plan your loan repayment and choose a tenure that suits you the best.

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/ief/feature-icon/IEF_PDP_featureicon_01.png
Quick approval

Your loan application will be approved in 48 hours* of submission.

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/ief/feature-icon/IEF_PDP_featureicon_02.png
3 Unique variants

Choose from our EMI Holiday, Principal MORAT and Term Loan variants

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/ief/feature-icon/IEF_PDP_featureicon_03.png
Minimal Documentation

To apply for our industrial equipment finance, you need three main documents. 1. Your KYC documents as proof of identity and address. 2. Your PAN card. 3. Proof of business ownership. Any additional financial documents required will be communicated based on your application details.

/content/dam/bajajfinserv/web/in/en/xaop/assets/sku-image-asset/loan/ief/feature-icon/IEF_PDP_featureicon_04.png
Flexible Loan Repayment

Plan your loan repayment and choose a tenure that suits you the best.

Features and benefits of our Industrial Equipment Finance

  • Loan of up to Rs. 15 crore

    Get funds from Rs. 2 lakh to Rs. 15 crore through an end-to-end online application process to manage your industrial equipment costs.

  • Flexible tenures of up to 96 months

    Repay your loan comfortably with extended repayment tenures of up to 96 months.

  • Minimal documentation

    You need to submit just a few basic documents to apply for our Industrial Equipment finance.

  • Approval in 24 hours*

    In most cases, your application for Industrial Equipment Finance will get approved within 24 hours*.

  • No hidden charges

    The fees and charges are mentioned upfront in all the loan documents and on this page. We advise you to read them in detail.

  • No collateral required

    You do not need to provide any collateral such as gold ornaments or property when applying for Industrial Equipment Finance.

  • End-to-end online application process

    You can apply for our industrial equipment loan from the comfort of your home or from wherever you are. 

Bajaj Finance offers loans up to 100% of equipment value.
*Terms and conditions apply

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Eligibility criteria and documents required

There are just a few simple criteria to be eligible for our Industrial Equipment Finance. You will need some documents as well to finish your application.

Eligibility criteria

  • Nationality: Indian
  • Age: Minimum age - 24 years for primary applicant (18 years for non-financial /co-applicant/guarantor)
  • Maximum age - 85 years*
  • CIBIL score: 700 or higher

*Higher age limit is applicable at the time of loan maturity.

Documents required

  • Individual and business PAN card
  • Aadhaar/ passport/ voter’s ID/ driving license/ letter from NPR/ NREGA job card
  • Current account bank statements for the last 12 months
  • Business vintage proof
  • Degree certificate
  • Certificate of practice, if applicable
  • Recent colour photograph (Mandatory)

*Any additional documents that may be required will be communicated during the loan application process.

How to apply for Industrial Equipment Finance

Step-by-step guide to apply for Industrial Equipment Finance

  • Click on the 'APPLY' button on this page.
  • Enter your 10-digit mobile number and OTP.
  • Fill in the application form with your basic details, such as your full name, PAN, date of birth, and PIN code.
  • Once you enter all your details, please click on 'PROCEED' to visit the loan selection page.
  • Enter the loan amount that you need. Choose the repayment tenure and click on 'PROCEED'.
  • Complete your KYC and submit your Industrial Equipment finance application.

Our representative will guide you on the next steps. The loan amount will be transferred to your bank account on the successful verification of your documents.

Applicable fees and charges

Types of fees Charges applicable
Rate of interest Up to 11% per annum
Processing fee Up to 2.95% of the loan amount (inclusive of applicable taxes)
Prepayment charges Full prepayment
• Term Loan: Up to 4.72% (inclusive of applicable taxes) on the outstanding loan amount as on the date of such full prepayment

•Flexi Hybrid Loan: Up to 4.72% (inclusive of applicable taxes) of the total withdrawable amount as per the repayment schedule as on the date of such full prepayment

Part prepayment
•Up to 4.72% (inclusive of applicable taxes) of the principal amount of loan prepaid on the date of such part prepayment.
•Not applicable for Flexi Term Loan (Flexi Dropline) and Hybrid Flexi
Annual maintenance charges Not applicable
Bounce charges Rs. 1,500/- per bounce. “Bounce charges” shall mean charges for non-payment of instalment (s) on their respective due dates due to dishonour of payment mandate or non-registration of the payment mandate or any other reason.
Penal charge Delay in payment of instalment(s) shall attract Penal Charge of Rs. 190 per day per instalment from the respective due date until the date of receipt of the full instalment(s) amount.
Stamp duty (As per respective state) Payable as per state laws
Broken period interest/ pre-EMI interest Broken period interest/ pre-EMI interest shall mean the amount of interest on loan for the number of day(s) which is(are) charged in two scenarios:

Scenario 1 – More than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, broken period interest is recovered by the following methods:
•For Term Loan: Added to the first instalment amount
•For QDP process: Added to first instalment amount
•For Flexi Term Loan: Added to the first instalment amount
•For Flexi Hybrid Loan: Added to the first instalment amount

Scenario 2 – Less than 30 days from the date of loan disbursal till the first EMI is charged:

In this scenario, interest is charged only for the actual number of days since the loan was disbursed.
Legal, repossession and incidental charges Actual legal and incidental charges under applicable laws.
LC processing fees Up to 2% of the loan amount (inclusive of applicable taxes)
CERSAI charges Rs. 118/- (inclusive of applicable taxes)

Our loan variants

Loan Variant Annual maintenance charges Part-prepayment facility EMI Tenure Disbursal
EMI Holiday Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount during the initial tenure. Up to 0.295% (inclusive of applicable taxes) of total withdrawable amount during subsequent tenure. Free Interest-only EMIs for the initial tenure 12 to 96 months Withdraw and prepay conveniently from your sanctioned loan limit
Principal MORAT Up to 0.295% (inclusive of applicable taxes) of the total withdrawable amount (as per the repayment schedule) on the date of levy of such Fixed EMIs charges. Free Fixed EMIs 12 to 96 months Withdraw and prepay conveniently from your sanctioned loan limit
Term Loan NA Up to 4.72% (inclusive of applicable taxes) of the principal amount of the loan prepaid on the date of such part-prepayment. Fixed EMIs 12 to 96 months Entire loan amount disbursed in one go

Frequently asked questions

What is Industrial Equipment finance?

Industrial Equipment Finance allows you to avail funds to purchase or upgrade equipment for the smooth running of your business. With our attractive interest rates and speedy processing of loans, you can easily avail funds to upgrade your equipment.

What is the maximum amount of Industrial Equipment finance that I can get?

You can apply for Industrial Equipment finance of up to Rs. 15 crore. You can repay the loan comfortably over a long tenure from 12 months to 96 months.

Where can I find the loan account statement for my loan?

Bajaj Finance Limited offers easy online access to loan statements through their customer portal, My Account. With the help of this portal, you can view and manage your loan account from anywhere. You can also download the e-statements and certificates free of cost.

How do I apply for Industrial Equipment finance?

You can click on 'Apply’ to open the online application form. Once you share your basic and financial details, our representative will guide you on the further steps.

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How to apply for Industrial Equipment Finance
 
 

How to apply for Industrial Equipment Finance

Eligibility criteria for Industrial Equipment Finance
 
 

Eligibility criteria for Industrial Equipment Finance

Features and benefits of Industrial Equipment Finance
 
 

Features and benefits of Industrial Equipment Finance

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Disclaimer

Bajaj Finance Limited has the sole and absolute discretion, without assigning any reason to accept or reject any application. Terms and conditions apply*.