Bank of Baroda (BoB) is one of the leading public sector banks that provide financial services to retail, corporate, and MSME segments. The Bank of Baroda was established in 1908 and has a presence in 17 countries. The bank was nationalized in 1969 by the Government of India, along with 13 other major commercial banks in India. BoB has more than 8,000 branches across the country and also holds global significance. Their customer-centric approach and digitally sound system have given them high credit ratings. It has a huge portfolio, which includes business loans, working capital, home loans, vehicle finance, and construction equipment loans.
Bank of Baroda offers dedicated Construction Equipment Loans as part of its Equipment Finance and Commercial Vehicle Loan programs. These loans help customers buy new or used excavators, loaders, cranes, tippers, batching plants, and similar machinery. The bank provides funding of up to 85% to 90% for new machines, along with attractive interest rates and flexible EMI plans. Additionally, Bank of Baroda assists MSMEs, contractors, and fleet operators with refinancing and top-up options, making it easier to acquire equipment.
BoB’s Equipment Finance scheme also includes agricultural and industrial equipment, power generators, and special-purpose machines. These loans feature convenient repayment options, straightforward documentation, and choices for term loans or working capital loans. With a clear approval process and a commitment to long-term relationships, Bank of Baroda is a trustworthy partner for your construction and heavy equipment financing needs.
Calculate your loan EMI in 3 easy steps. Use EMI calculator to estimate your EMI and total amount payable.
Bank of Baroda’s Construction Equipment Loans are available to self-employed individuals, contractors, partnership firms, MSMEs, and companies engaged in civil works, mining, logistics, and infrastructure development. The borrower must demonstrate stable income and repayment capacity.
PAN card, Aadhaar, voter ID, passport, or driving license and lates passport size photographs for identity verification.
Utility bill, Aadhaar, passport, voter ID, or rent agreement showing current residence or business location.
GST registration, business license, partnership deed, or company incorporation certificate.
Bank statements, ITR for last 2 years, audited financials, or business turnover proof for loan eligibility.
Quotation from authorised dealer or valuation of used equipment being financed.
If the equipment includes vehicles, registration and insurance details are mandatory.
Explore a wide range of construction and heavy machinery from India’s top brands like CAT, Komatsu, JCB, Tata Hitachi, CASE, and more—all in one place.
Select the equipment model that best fits your project requirement, budget, and usage type—whether it’s for earthmoving, road work, mining, or lifting.
Select the equipment model that best fits your project requirement, budget, and usage type—whether it’s for earthmoving, road work, mining, or lifting.
The Bank of Baroda Construction and Mining Equipment Loan is a financing scheme designed to help businesses purchase new or used construction and mining machinery. It offers equipment finance and commercial vehicle loans with competitive interest rates, flexible repayment options, and fast processing for contractors, builders, and infrastructure companies.
Bank of Baroda provides equipment loans for a wide range of construction and mining machinery, such as excavators, backhoe loaders, bulldozers, wheel loaders, cranes, concrete pumps, transit mixers, road rollers, and compactors. Both new and used machines may be eligible, depending on the bank’s valuation and age criteria.
Bank of Baroda offers up to ₹50 crore per unit, covering up to 90% of the equipment cost, with repayment tenures up to 5 years.
Yes, Bank of Baroda provides financing for used or second-hand machinery, subject to proper valuation, age criteria, and adherence to the bank’s equipment financing guidelines.
Loan tenures range up to 5 years, depending on asset type and borrower profile.
Yes, flexible EMI structures are available, including step-up or balloon repayment models suited to seasonal businesses.
Self-employed professionals, contractors, MSMEs, transporters, and companies in infrastructure or mining are eligible.
Yes, Bank of Baroda allows refinancing of existing loans and provides top-up funding against available asset equity.
Equipment insurance and credit life cover can be bundled optionally, depending on borrower preference and loan terms.
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