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Construction Equipment Loan @9.00% Onwards

• Get 100% for new construction equipment
• Collateral free loan is available
• Hassle free processing
Enquiry Form
Construction Equipment Loan
Bank Name Processing Fees Interest Rate Foreclosure Charge
Tata Capital Financial Services Limited
0
0
0
Bank Name Min Interest Rate
Tata Capital Financial Services Limited

0

₹ 10L
₹ 50L
₹ 1C
₹ 1.5C
₹ 2C
₹ 2.5C
₹ 3C
%
1%
5%
10%
15%
20%
25%
30%
1
10
20
30
40
50

Loan EMI

Total Interest

Total Payment

Eligibility Criteria

What you mean by Construction equipment loan Eligibility Criteria?

Get up to 100% funding for construction equipment whether for a new, used, top- up on existing loan nor take over existing loan. Avail loan at competitive interest rate with maximum repayment period of 60 months.

Construction loan Eligibility Criteria

Eligibility Criteria depends on various factors like age of individual, repayment history, business sales/turnover, total work experience & Creditworthiness ...etc.

Eligibility Criteria

  • • Age Limit of Self –Employed Individuals - 22 to 60
  • • Individuals, Proprietary concerns, Partnership firms, Companies (Private & Public), Trusts (Private Trusts), Limited Liability Partnerships
  • • Minimum 2 years of business continuity
  • • Minimum 2 years of audit by registered chartered accountant

Note: - It would range from minimum 5 Lakh to maximum 5 Cr.

What are the factors generally affecting Construction equipment loan Eligibility Criteria?

There are top factors that generally affects construction loan eligibility criteria as given below: -

Stability of business: - Lenders want to know about your business stability level whether its high or low, if in recent years business unable to generate sales, then your repaying capacity become low as well as the eligibility too.

Poor credit rating: - Credit rating considered to be main factor in evaluating creditworthiness of an applicant, where if you have ever failed to pay EMI on times, paying bill after due date led to poor rating & bad impression Infront of lender where eligibility chances get lower.

What are the ways to increase Construction equipment loan eligibility?

To increase eligibility, you need to consider Top points as given below, this will aid you in increasing your eligibility level.

Reduce unnecessary spending: - When you avoid spending over unnecessary expenses, you can utilize money on improving & generating sales of your company as it will improve repayment capacity.

Opt for a longer tenure: - Longer tenure indicate an affordable monthly EMI to pay & make you able to do payment without making any default.

Documents Required

  • Individual
  • Prop Firm
  • Partnership Firm-LLP
  • PVT. LTD.
  1. PHOTOGRAPHS 2
  2. PAN CARD COPY
  3. AADHAR CARD + PASSPORT
  4. ADDRESS PROOF IF RENTED ALSO REQUIRED PERMANENT ADDRESS PROOF
  5. LAST 3 YEARS FORM -16, ITR WITH COMPUTATION OF INCOME IF FILE
  6. LAST 1 YEAR BANK STATEMENT - SALARY ACCOUNT
  7. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
  8. COMPLETE PROPERTY PAPERS WITH CHAIN & MAP +ATS
  9. PROCESSING FEE CHEQUE IN FAVOUR OF BANK
  10. LAST 3 MONTHS SALARY SLIP + APPOINTMENT LETTER
  1. PHOTOGRAPH BOTH
  2. PAN CARD CLEAR COPY PROPRIETOR
  3. ADDRESS PROOF (PASS PORT, VOTER ID CARD) PROPRIETOR
  4. OFFICE ADDRESS PROOF LATEST (ELECTRICITY BILL, TELEPHONE BILL)
  5. LOAN SCHEDULE & SANCTION LETTER (IF RUNNING)
  6. FIRM REGISTRATION CERTIFICATES & GST REGISTRATION COPY
  7. LAST 1 YEAR GST RETURN COPY
  8. FIRM 3 YEARS ITR COMPUTATION, PROFIT LOSS A/C, BALANCE-SHEET, TAX AUDIT REPORT, ALL SCHEDULED & ANNEXURE
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. BANK ACCOUNTS (CURRENT ACCOUNT, CC ACCOUNT, OD ACCOUNT LAST 1 YEAR UPDATED)
  11. 6 MONTH SAVING ACCOUNT STATEMENT UPDATED (PROPRIETOR)
  12. IF RUNNING ANY LOAN PLEASE PROVIDE SANCTION LETTER AND REPAYMENT SCHEDULED
  13. AGREEMENT TO SELL COPY
  14. PROPERTY PAPERS WITH CHAIN SANCTION MAP
  1. PHOTOGRAPH PARTNERS
  2. PAN CARD - COMPANY, ALL PARTNERS
  3. ADDRESS PROOF - ALL PARTNERS (PASS PORT, VOTER I CARD ,PAN ,ADHAAR)
  4. FIRM ADDRESS PROOF- LATEST ANY UTILITY BILL
  5. PARTNERSHIP DEED COPY
  6. GST CERTIFICATE
  7. GST RETURN LAST 1 YEARS
  8. 3 YEAR COMPANY ITR COI P/L A/C BALANCESHEET + AUDIT REPORT 3CB 3CD, ALL ANNEXXURS, SCHEDULED WITH C.A.CERTIFIED
  9. PROVISIONAL FINANCIAL AY 2019-20
  10. 3 YEAR.ALL PARTNER INDIVIDUALS ITR + COMPUTATION
  11. FIRM ALL A/C BANK STATEMENT 1 YEAR UPDATED
  12. ALL PARTNER SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER + TRACK RECORDS OR REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH MAP
  1. ALL DIRECTORS PHOTOGRAPH
  2. CLEAR PAN CARD - COMPANY AND ALL DIRECTORS
  3. ADDRESS PROOF – COMPANY AND DIRECTORS
  4. LIST OF DIRECTOR & SHARE HOLDER WITH CA CERTIFIED AS ON DATE
  5. MEMORANDOM ORDER IN HAND AND COMPLETE COPY (IF APPLICABLE)
  6. GST, SALE, VAT AND SSI REGISTRATION CERTIFICATE
  7. 1 YEAR GST RETURNS
  8. ALL DIRECTORS INDIVIDUALS ITR & COMPUTATION LAST 3 YEARS
  9. LAST 3 YEARS COMPLETE FINANCIAL WITH TAX AUDIT REPORT AND ANNEXURE
  10. PROVISIONAL FINANCIAL FY 2019-20 OR MONTH WISE SALE FIGURE LAST 1 YEAR
  11. COMPANY ALL BANK ACCOUNT STATEMENT 1 YEAR UPDATED
  12. ALL DIRECTORS SAVING A/C STATEMENT 6 MONTH
  13. IF RUNNING ANY LOAN – LATEST SANCTION LETTER AND REPAYMENT SCHEDULED
  14. AGREEMENT TO SELL COPY
  15. PROPERTY PAPERS COMPLETE CHAIN WITH SANCTION MAP
Frequently Asked Questions

How does a construction equipment loan works?

Loan for construction equipment is offered by various banks & NBFCs at good rates. These loans are majorly utilized to get financed for acquiring new equipment, as they come under secured category you need to pledge collateral/assets to get loan. Hence, because of its nature you can able to get loan at lowest interest rates as the risk level seems lower.

What is the current construction equipment loan interest rates?

The current construction equipment loan interest rates starting @9.00% Onwards.

Which are the documents required for construction equipment loan?

  • Application form
  • Identity proof
  • Address proof
  • Income proof
  • Bank statement of last 1 year
  • Company documents

How much credit score is required to get construction equipment finance?

Whether it's a personal loan or business loan make sure you maintain a good credit score range which needs to be above 700 to get loan easily & negotiate better rates.

How much down payment needs to be made for construction equipment loan?

Minimum 15% of total equipment cost needs to be made from your side as a down payment.

What is the maximum tenure period to repay construction equipment loan?

Loan for construction equipment allows you to get maximum 5 years to repay principal amount.

What are the benefits of construction equipment loan?

  • Loan at attractive interest rates
  • Get up to 100% finance for new construction equipment's
  • No hidden charges
  • Simplified document processing

What is construction equipment loan?

These loan are mainly provided to purchase new equipment & machinery for construction purposes at affordable rates.

Related Topics

  • CONSTRUCTION EQUIPMENT LOAN BY BANKS

  • CONSTRUCTION EQUIPMENT LOAN BLOGS

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