Axis Bank Ltd., founded in December 1993 and based in Mumbai, is one of India’s top private-sector banks. It offers a wide range of retail, corporate, and small to medium enterprise banking services. With over 5,700 branches across the country and locations in international financial centers like Singapore and Dubai, the bank provides support to both businesses and individuals through innovative financial solutions. Known for its digital efforts, Axis Bank focuses on serving the manufacturing, infrastructure, and transportation sectors. It has established itself as a preferred choice for machinery and equipment financing. The bank’s commitment to customized lending products helps businesses access the right financing options with competitive terms.
Axis Bank’s construction equipment loans and commercial vehicle financing programs offer strong support to businesses in need of machinery loans. The bank provides financing for both new and used machinery to aid business growth. Its “Commercial Vehicle & Construction Equipment Loan” allows for up to 100% financing for new equipment and up to 90% for used machinery. Interest rates start around 9.30% for new equipment and 10.30% for used machinery, making it appealing for those looking for heavy equipment financing or machinery loans. Loan tenures range from 1 to 5 years for new equipment and from 1 to 4 years for used machinery, covering everything from construction machinery loans to heavy equipment financing and used machinery loans.
Axis Bank meets various financial needs across industries with its equipment financing offerings. Unsecured industrial equipment loans are available for micro, small, and medium enterprises (MSMEs), with amounts ranging from ₹10 lakh to ₹5 crore and terms up to 60 months, allowing for financing of machinery and equipment without collateral up to ₹3.5 crore. Benefits include a moratorium on EMIs, flexible repayment plans, and coverage for refurbished machinery. This construction equipment financing solution is designed for self-employed individuals, sole proprietorships, and corporate entities, simplifying the process of business expansion. The bank effectively positions itself as a leading choice for machinery financing, providing support for capital expenditures, working capital, refinancing, balance transfers, and parallel financing—all in one place.
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Any individual, partnership firm, company, LLP, HUF, or trust with at least 2 years of business experience (3 years for unsecured MSME equipment loans) is eligible. Must be self-employed, aged 21–65, with stable residence/office, CIBIL score ~700+, and a consistent repayment track record with required financial documentation.
PAN card, Aadhaar, voter ID, passport, or driving license and latest passport size photographs for identity verification.
Utility bill, Aadhaar, passport, voter ID, or rent agreement showing current residence or business location.
Proof of business operations via Udyam certificate, contract copies, GST registration or work‐in‐hand documents.
Recent financials including ITRs, profit & loss statements, six months’ bank statements, or income records
Pro forma invoices or quotations for the machinery or construction equipment to be purchased.
Documents for pledged collateral (if applicable) and insurance cover note or margin receipt pre-disbursement.
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Axis Bank provides finance for a wide range of new and used construction machinery and equipment, including excavators, loaders, cranes, compactors, and more. Both new and used equipment are eligible, with funding available for up to 100% of the asset cost for new equipment and up to 90% of the valuation amount for used equipment.
Interest rates for construction equipment finance with Axis Bank typically range from 9.55% to 15.40% for new equipment and 10.85% to 16.90% for used equipment. The exact rate depends on the loan tenure, applicant profile, and business credentials
You can get up to 100% of the asset cost for new equipment and up to 90% of the valuation for used equipment, with loan tenures ranging from 1 to 5 years for new equipment and up to 4 years for used equipment.
Businesses with at least three years of operation, a minimum annual income of ₹3 lakhs, and applicants aged between 21 and 65 years are eligible to apply.
You need to provide a completed application form, KYC documents, address and identity proof, income proof, bank statements, and a quotation or invoice for the equipment.
Yes, Axis Bank offers used machinery loans and finance for refurbished equipment, with funding up to 90% of the equipment’s valuation and a maximum tenure of 4 years, subject to the equipment’s remaining useful life.
For unsecured industrial equipment loans, collateral is not required up to ₹3.5 crore. For secured loans, the equipment itself typically serves as collateral. Additional collateral may be requested based on the loan amount and applicant profile
Processing fees are up to 1% of the loan amount plus taxes, with additional charges for foreclosure, late payments, and documentation
Axis Bank typically processes construction equipment loan applications within 7 days, subject to submission of complete documentation and meeting eligibility criteria
Foreclosure is allowed with applicable charges, usually around 2% to 4% of the outstanding principal, but part prepayment may not be available for all products.
Yes, a moratorium of up to 60 days (for secured loans) or up to 6 months (for unsecured industrial equipment loans) may be available, depending on the product.
Yes, Axis Bank offers balance transfer facilities for construction equipment loans, allowing you to move your existing loan for better rates or terms
Axis Bank’s equipment financing is available for a wide range of businesses, including contractors, builders, infrastructure companies, manufacturers, and MSMEs engaged in construction and related industries
Repayment is typically through monthly installments (EMIs) comprising both principal and interest, with flexible tenure options4.
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