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AXIS Bank Equipment Loan
Industrial equipment loans help you to finance your industrial equipment requirements. With collateral-free Industrial Equipment Loans by Axis Bank, you can take out a loan against the purchase of your industrial equipment, which will facilitate the growth of your business as well. Axis Bank equipment loan helps you grow your business. Get the funding you need to purchase machinery, machinery parts, and tools for your manufacturing facility.Powered By
AXIS Bank Equipment Loan
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Here are a few factors
| Location | PAN India |
| CIBIL Score | 700+ |
| Applicant | Any Self Employed Person |
| Loan Amount & Tenure | 10
Lac-No Limit (3 Year to 7 Year) |
| Loan to Value(LTV) | Upto 90% |
| Type of Funded Equipment | (i) Construction Equipment (ii) Health Care Equipment (iii) Other Equipment |
| Rate of Interest & Type | 9% to 14% (Reducing) |
| Processing Fees | 0.50% to 2% |
| TAT | 7 days |
| Foreclosure Charges | Upto 4% |
| Applicant Age | 21 Year to 65 Year |
| Minimum Business Vintage | 3 Year |
| Whether Co-Applicant Mandatory | Yes, If applicant is other than Proprietorship Firm |
| Part Payment Allowed | No |
| Product | Term Loan |
| Whether Collateral Required | No |
| Moratorium Allowed | Yes |
| Negative Profile | (i) Advocate (ii) Politician |
| USP | Unsecured Funding |
| Additional | (i)
For Used Equipment Loan ROI will be 10.30% to 16.55% & Tenure would be
maximum 4 year subject to life of equipment (ii) Applicant should be having owned residence or office (iii) Lease Financing not doing |
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
Are you planning to buy a pre-owned car? Got your eye on the latest high-end sedan? Or, perhaps you are looking for something more practical - a small hatchback with five doors and four seats. Either way, there are numerous choices when it comes to buying a used automobile. If you want to purchase a used car or Axis Bank, you can avail yourself Up to 95% of the valuation amount; Up to 85% of the valuation amount(refinance loan), at attractive interest rates.
Required Eligibility to Apply for Axis Bank Equipment Loan
Required Eligibility to Apply for Axis Bank Equipment Loan
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The business vintage of the applicant must be Minimum 3 years in current profession
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The annual income of the business must Rs 3 lakhs
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The age of the applicant must be between 21 and 65 years.
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The business location must have been 24 months in the same location
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Either office or residential property is to be owned(If the office is rented, the unexpired lease period should be for a minimum of 2 yrs, and a waiver letter from the landlord is to be taken)
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Any other property ownership (except land/ under-construction/ part consideration) can also be considered but the property should be in the same city.
Required Documents to Apply for Axis Bank Equipment Loan
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KYC Documents
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Duly filled in application form signed by the customer
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Last 3 years ITR, P&L, and Balance Sheet
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Bank account statement of last 6 months
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PAN card/Form 60
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Pro forma invoice/ Quotation of equipment or machinery being purchased
FREQUENTLY ASKED QUESTIONS
Yes, the Penal Interest on Axis Bank Equipment Loan is 2.00% p.a additional to the existing rate of interest
Yes, Axis Bank will charge the borrower Rs. 500/- per instance + Applicable Taxes, if in any case their payment check bounces.
If you are willing to apply for an Axis Bank Equipment loan the minimum business vintage of your business must be 3 years.
Axis Bank Equipment Loans provide Funding against the Industrial Equipment purchased
The customer care number of Axis Bank is 1800–103–5577 (Toll-free number)
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