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Bandhan Bank, founded in 2015, is a private bank based in Kolkata with more than 6250 outlets in more than 35 states. The Commercial Vehicle & Construction Equipment Loan allows contractors, fleets, small and medium enterprises (SMEs), and the self-employed to purchase new or used machinery. Loans above 3 years also have a low starting interest rate of 9.52% p.a., flexible tenure of up to 84 months, 100% LTV, and funding available up to 5 crores.
The loan is used for construction equipment, such as excavators, loaders, dump trucks, cranes, and road rollers, as well as commercial vehicles. Its loans are hassle-free with less paperwork and faster disbursement, and are easy to understand. Processing fees are capped at 1% of the loan amount, plus GST. Borrowers have the flexibility to choose repayment structures tailored to their cash flow needs.
Through its partnership with Mahindra & Mahindra, Bandhan Bank also has access to the entire range of CV and equipment models as well as repayment plans. The eligibility criteria for applying are an age between 21 and 65 years, a good credit history, and sufficient income. The bank is transparent about their terms, there are no hidden fees and the process is personal, which makes them a favorable lender for financing machinery.
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Applicants must be Indian nationals aged 21 to 65 years at the time the loan matures. This applies to self-employed individuals or business entities, including proprietorships, partnerships, LLPs, and companies. Relevant business experience or credibility will be taken into account.
PAN card, Aadhaar, voter ID, passport, or driver’s license.
Utility bill, Aadhaar, or any valid address document.
GST certificate, trade license, or firm registration.
Bank statements (last 6 months), ITRs, or income proof documents.
Proforma invoice or valuation certificate for new or used machinery.
Equipment hypothecation or property documents in case of larger loan amounts.
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Bandhan Bank finances new and used commercial vehicles, excavators, loaders, graders, transit mixers, backhoe loaders, and construction machinery.
Yes, Bandhan Bank provides used equipment loans for eligible pre‑owned commercial vehicles and construction machinery, subject to valuation and condition.
Interest starts at 9.52% p.a. for tenures over 3 years and about 12.85% p.a. for shorter tenures.
Loan amounts range from ₹1 lakh to ₹5 crore, with up to 100% funding on eligible assets.
Flexible repayment tenure up to 84 months (7 years), depending on asset and borrower profile.
Generally the financed asset serves as collateral; additional security may be required for high‑value loans or weaker credit profiles.
Self‑employed individuals, companies, contractors and SMEs with valid business credentials and KYC documentation can apply.
Typically, funds are disbursed within 7 to 10 working days after document verification and loan approval.
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