Excavator 
Backhoe Loader 
Motor Grader 
Wheel Loader 
Crane 
Concrete Mixer 
Compactor 
Skid Steer Loader 
Concrete Pump 
Telehandler 
Loan amount
Low down payment
New or used machines · quick approvals · EMIs that fit your cash flow. We help you from enquiry to keys-in-hand.
A Cholamandalam construction equipment loan helps you buy machines like excavators, concrete mixers, compactors, dumpers and forklifts — new or used. Chola is a Murugappa group NBFC with over 1,300 branches, so support reaches small towns too. It keeps the down payment low, approves quickly with minimal papers, and can give an on-site sanction. Individuals, firms and companies in construction, road work or mining can all apply. Tell the Desi Machines finance desk your machine and city, and we'll help move the loan without long queues or confusing paperwork.
Chola started as a Murugappa group company and grew into one of India’s most trusted non-banking finance companies (NBFCs). It is not a bank, but for buying machines that often works in your favour — the paperwork is lighter and the people who visit you actually know construction and mining work. For a small contractor in a taluka town, that difference matters more than a fancy branch in the city.
A Cholamandalam construction equipment loan is simply money Chola lends you to buy a machine. You put down a part of the cost yourself, Chola pays the rest, and you return that amount in monthly instalments (EMIs) from what the machine earns. The machine usually stands as the security, so you don’t always have to pledge land or a house. Chola funds both brand-new machines and sound second-hand ones, which helps a first-timer whose budget stretches only to a good used dumper.
What can you finance with Chola? Real working machines — excavators, backhoe loaders, concrete mixers, compactors and road rollers, motor graders, cranes, dumpers, forklifts and compressors. There is even room to refinance a machine you already own or take a top-up loan against it for working capital. If it is a genuine construction, road or mining machine, Chola can usually arrange the money for it.
Two things make Chola easy for people far from big cities. First, it runs over 1,300 branches, so there is often a walk-in office in your own district. Second, it keeps the down payment low and can give an in-principle sanction right at your site — no need to shut the work and travel for days. You keep more cash in hand for diesel, wages and repairs, and let the machine slowly pay for itself. Want to weigh other lenders first? Compare Axis Bank and Shriram Finance on our finance page, or protect the machine with Cholamandalam MS Insurance.
Loan amounts, interest rates and tenures shown here are indicative and are decided by Cholamandalam based on your profile. Please confirm the latest terms with Chola or our finance desk before you apply.
Chola serves customers in rural and semi-urban areas through its extensive branch network, making equipment loans accessible even in remote locations with personalized service and easy loan processing.
Chola offers low down payment options, making it easier for small businesses and contractors to purchase essential construction equipment without heavy upfront investment.
The loan approval process is fast and hassle-free, with minimal documentation required—ideal for time-sensitive equipment purchases and business operations.
Chola provides attractive interest rates based on borrower profile and equipment type, helping customers keep EMIs affordable and manage long-term costs efficiently.
In-principle loan approval can be done right at the customer’s location, saving time and reducing the need for multiple branch visits.
With over 1,300 branches, Chola offers easy walk-in access across India, especially in smaller cities and towns where in-person support is valued.
Wondering what the monthly EMI might look like? Slide the values below to see it right away. As a rough, illustrative example, a ₹30 lakh loan at 11% over 4 years works out to around ₹77,500 a month — shown only to give you a feel, not a quote. Change the amount, down payment or tenure and the figure updates on its own. For the exact number in your case, send us the details and we’ll confirm it with Cholamandalam.
You don’t need to be a large firm to qualify. Chola lends to individuals, proprietors, partnership firms and companies working in construction, infrastructure or mining. What it mainly checks is straightforward: is there a steady source of income to cover the EMI, is your KYC in order, and have you been in business for at least a year or two? New buyers can still apply, usually with a slightly higher down payment. If you are not sure whether your case fits, just talk to our team first — we check for you before you spend time collecting papers.
PAN card, Aadhaar, voter ID, passport, or driving license and lates passport size photographs for identity verification.
Aadhaar Card, Passport, Driving license, Gas Connection Card, Water Bill, Electricity Bill, Prepaid Mobile Bill, Telephone Bill or Voter’s ID
Salary slips, bank statements for the last 6 months (for salaried individuals), or relevant income documents for self-employed individuals.
GST registration, firm registration, MOA/AOA (for companies), or other business ownership documents.
Pro forma invoice for new equipment or certified valuation for used machinery.
Details of hypothecation, insurance premium, and existing machinery for asset-backed loan processing.
Getting a Chola loan is simpler than it sounds, and you don’t have to manage it alone. You pick the machine, we help you put the finance file together, and Chola does the approval — often with an in-principle sanction right at your site. Here is the easy path from “I need a machine” to “keys in hand”, and a clean file usually moves in just a few working days.
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Cholamandalam Construction Equipment Loan is a financing solution designed to help individuals and businesses purchase or refinance new and used construction machinery with flexible repayment terms and competitive interest rates.
The Cholamandalam Construction Equipment Loan covers a wide range of machinery, including excavators, backhoe loaders, cranes, concrete mixers, compactors, forklifts, and other construction-related equipment.
Yes, the Cholamandalam Construction Equipment Loan offers financing for both new and used construction machinery, and also supports refinancing of existing equipment.
Interest rates for Cholamandalam Construction Equipment Loan typically start around 12% for new equipment and range between 14%–18% for used machines, depending on the borrower’s profile.
With a Cholamandalam Construction Equipment Loan, you can get up to 90% of the equipment’s value financed, with loan amounts reaching as high as ₹5 crore.
The repayment period for a Cholamandalam Construction Equipment Loan ranges from 1 year to 7 years, based on equipment type and borrower eligibility.
To apply for a Cholamandalam Construction Equipment Loan, applicants should be 21–65 years old, have at least 3 years of business experience, and maintain a healthy CIBIL score (preferably 650+).
No separate collateral is required for Cholamandalam Construction Equipment Loan—the equipment being financed itself serves as the hypothecated security for the loan.
Yes, Cholamandalam Construction Equipment Loan allows refinancing of existing machinery to help release capital or restructure previous loans.
While not mandatory, insurance is strongly recommended under the Cholamandalam Construction Equipment Loan to protect the equipment against damage, theft, or operational risks.
Typically, Cholamandalam Construction Equipment Loan is processed and disbursed within 3–7 working days after submission of complete documentation.
Yes, Cholamandalam Construction Equipment Loan may include foreclosure or prepayment charges of up to 4% of the outstanding amount, depending on tenure and agreement terms.
Check Cholamandalam Finance equipment finance and loan options across all major cities in India including Mumbai, Pune, Kolkata, Hyderabad, Chennai, Bengaluru, Delhi, Ahmedabad, Indore, Jaipur, Guwahati, and 600+ more locations.
Mumbai
Pune
Nagpur
Navi Mumbai
Thane
Nashik
Aurangabad (Chhatrapati Sambhajinagar)
Solapur
Kolhapur
Amravati
Chandrapur
Yavatmal
Latur
Dhule
Ahmednagar
Jalgaon
Raigad
Beed
Wardha
Palghar
Sangli
Ratnagiri
Satara
Nanded
Akola
Buldhana
Ahmedabad
Gandhinagar
Surat
Vadodara
Rajkot
Bhavnagar
Jamnagar
Mundra
Kutch
Vapi
Anand
Mehsana
Morbi
Surendranagar
Amreli
Bharuch
Navsari
Dahej
Alang
Dholera
Gandhidham
Panaji
Vasco da Gama
Margao
Calangute
Mormugao
Chennai
Coimbatore
Madurai
Tiruchirappalli
Hosur
Salem
Tirunelveli
Vellore
Erode
Thoothukudi
Neyveli
Cuddalore
Virudhunagar
Dharmapuri
Krishnagiri
Thanjavur
Tiruppur
Kancheepuram
Ranipet
Chengalpattu
Kanyakumari
Bengaluru
Mysuru
Hubballi-Dharwad
Belagavi
Mangaluru
Davanagere
Ballari
Hospet
Tumakuru
Shivamogga
Chitradurga
Raichur
Kolar
Hassan
Hoskote
Doddaballapura
Kalaburagi
Bidar
Koppal
Vijayapura
Chamarajanagar
Visakhapatnam
Vijayawada
Amaravati
Guntur
Tirupati
Nellore
Kurnool
Kadapa
Anantapur
Rajahmundry
Kakinada
Eluru
Ongole
Srikakulam
Bheemunipatnam
Machilipatnam
Proddatur
Hindupur
Srikalahasti
Nandyal
Hyderabad
Warangal
Karimnagar
Nizamabad
Khammam
Maheshwaram
Sangareddy
Nalgonda
Adilabad
Suryapet
Siddipet
Ramagundam
Mancherial
Peddapalli
Bhadrachalam
Zaheerabad
Narayanpet
Vikarabad
Medak
Kothagudem
Thiruvananthapuram
Kochi
Kozhikode
Thrissur
Kollam
Palakkad
Malappuram
Alappuzha
Kannur
Kasaragod
Kottayam
Idukki
Wayanad
Pathanamthitta
Ernakulam
Aluva
Angamaly
Perumbavoor
Munnar
Ponnani
Lucknow
Kanpur
Varanasi
Prayagraj
Noida
Ghaziabad
Meerut
Jhansi
Aligarh
Moradabad
Gorakhpur
Mathura
Bareilly
Saharanpur
Ayodhya
Mirzapur
Dadri
Muzaffarnagar
Deoria
Kushinagar
Ballia
Sonbhadra
Gonda
Etawah
Jaipur
Jodhpur
Udaipur
Kota
Ajmer
Bikaner
Alwar
Bhilwara
Barmer
Jaisalmer
Pali
Nagaur
Banswara
Dungarpur
Chittorgarh
Sikar
Sawai Madhopur
Tonk
Bundi
Sriganganagar
Ludhiana
Amritsar
Jalandhar
Patiala
Mohali
Bathinda
Hoshiarpur
Moga
Gurdaspur
Pathankot
Firozpur
Rupnagar
Fatehgarh Sahib
Sangrur
Faridkot
Kapurthala
Nawanshahr
Muktsar
Tarn Taran
Fazilka
Gurugram
Faridabad
Panipat
Ambala
Sonipat
Rohtak
Hisar
Karnal
Rewari
Manesar
Panchkula
Bhiwani
Yamunanagar
Jhajjar
Nuh (Mewat)
Sirsa
Kaithal
Kurukshetra
Bahadurgarh
Palwal
Shimla
Manali
Dharamshala
Solan
Baddi
Mandi
Kullu
Bilaspur
Una
Chamba
Kangra
Rampur
Lahaul-Spiti
Hamirpur
Sirmaur
Kinnaur
Dehradun
Haridwar
Rishikesh
Nainital
Roorkee
Haldwani
Kashipur
Rudrapur
Pantnagar
Champawat
Pithoragarh
Bageshwar
Chamoli
Uttarkashi
Almora
Vikasnagar
Kotdwar
Ramnagar
Srinagar (Pauri)
Tehri
Central Vista
Dwarka
Rohini
Narela
Okhla
Tughlakabad
Shahdara
Janakpuri
Badarpur
Uttam Nagar
Saket
Mundka
Burari
Bawana
Kanjhawala
Najafgarh
Deoli
Mehrauli
Vasant Kunj
Mayur Vihar
Srinagar
Jammu
Udhampur
Katra
Anantnag
Baramulla
Sopore
Pulwama
Ganderbal
Bandipora
Kupwara
Kathua
Reasi
Ramban
Doda
Rajouri
Poonch
Kishtwar
Shopian
Kulgam
Leh
Kargil
Drass
Hanle
Chushul
Zanskar
Nubra
Shyok
Khaltse
Dha-Hanu
Nyoma
Mulbekh
Sector 17 (City Core)
Sector 62 (IT Park)
Industrial Area Ph-1
Industrial Area Ph-2
Manimajra
Panchkula Extension
Mohali Phase 8
ISBT 43
Daria
Hallomajra
Rock Garden Area
Sector 82 (Aerocity)
Kolkata
Durgapur
Asansol
Haldia
Siliguri
Kharagpur
Bardhaman
Medinipur
Howrah
Raniganj
Burnpur
Bankura
Kalyani
Purulia
New Town (Rajarhat)
Bidhannagar
Barasat
Malda
Jalpaiguri
Cooch Behar
Bhubaneswar
Cuttack
Rourkela
Sambalpur
Berhampur
Angul
Talcher
Jharsuguda
Sundargarh
Paradip
Koraput
Rayagada
Keonjhar
Bolangir
Kalahandi
Dhenkanal
Baripada
Jajpur
Kendrapara
Puri
Ranchi
Jamshedpur
Dhanbad
Bokaro
Hazaribagh
Deoghar
Giridih
Ramgarh
Dumka
Lohardaga
Gumla
Palamu
Chatra
West Singhbhum
Pakur
Sahibganj
Koderma
Simdega
Godda
Khunti
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