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Canara Bank is a leading government-owned public sector bank, founded in 1906 and based in Bengaluru. It offers a strong range of financing solutions for MSMEs. The bank is known for its extensive network of branches in both rural and urban areas. It also has significant regulatory credibility. Canara Bank helps businesses with flexible funding options. With simple processes, competitive interest rates, and customized lending against assets, it enables contractors, traders, and manufacturers to grow using Construction Equipment Loans, Equipment Financing, and Machinery Financing.
The Canara Easy Equipment Finance scheme is designed for MSME contractors who require heavy construction machinery, such as excavators, JCBs, loaders, cranes, road rollers, transit mixers, backhoe loaders, graders, DG sets, and more. This scheme works as a term loan with an optional line of credit. It offers a minimum financing amount of ₹10 lakh and flexible limits up to ₹50 crore, or ₹100 crore for top-rated clients. With quick processing, hypothecation-based loans for construction and mining equipment, and flexible terms of 3 to 5 years, this product provides smooth financing for equipment that supports infrastructure growth.
Canara Bank also offers Equipment Machinery Loans and Commercial Vehicle & Construction Equipment Loans, allowing borrowers to obtain financing for both new and used equipment based on their business cycles. Borrowers enjoy favorable margins of 5 to 20%, expert valuation, minimal paperwork, and access to refinancing through Loans Against Construction Equipment. Whether upgrading fleet assets or buying used machinery, Canara Bank’s tailored structure helps support sustainable growth and long-term business ambitions.
Fill out a quick enquiry form or connect via call, WhatsApp, or email. Desi Machines helps you apply for Machinery Loans or Finance for Machinery with fast approvals.
CEEF is available for individuals, proprietorships, partnerships, companies, and registered contractors (excluding trade suppliers), meeting the following criteria: The business must be 2 years old with no overdue accounts with the bank and valid documents.
PAN, Aadhaar, passport, voter ID, utility bills
GST, trade license, incorporation docs, 2–3 years ITR/audited statements
6–12 months, for CGTMSE/BEML schemes
A proforma invoice or valuation certificate for new or used construction equipment is required.
Hypothecation, insurance, asset registration
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.
Fill out a quick enquiry form or connect via call, WhatsApp, or email. Desi Machines helps you apply for Machinery Loans or Finance for Machinery with fast approvals.
Canara Bank finances a variety of new heavy-duty and earth-moving machines. This includes excavators, backhoe loaders, transit mixers, cranes, dumpers, pavers, rollers, compactors, and other equipment related to infrastructure or construction. Only brand-new machinery qualifies under this scheme.
You can get funding of up to ₹50 crore if you’re rated BBB or BB. For clients rated AAA or AA, the limit is up to ₹100 crore. Under the special BEML-linked equipment finance scheme, you can access up to ₹300 crore, depending on eligibility and assessment.
Registered MSME contractors who have been in business for over 2 years and have clean credit with no overdue loans can apply. The line of credit option needs satisfactory transactions for at least a year.
You will need to contribute 5% to 20% of the total equipment cost. The exact amount depends on the borrower’s risk profile, the type of equipment, and Canara Bank’s internal risk assessment.
The interest rate is tied to the bank’s current Repo Linked Lending Rate (RLLR). Usually, the rate falls between RLLR and RLLR + 0.70%. This depends on the borrower’s credit rating and risk profile. This approach guarantees clear and competitive pricing.
Yes, the equipment being financed serves as the main security. Extra collateral may be needed based on the loan amount and the borrower’s creditworthiness, according to Canara Bank’s lending policies.
Contractors buying BEML equipment; loan starts from ₹20 lakh up to ₹300 crore, with CGTMSE support for ≤₹2 Cr.
No — financing is available only for brand-new machinery like JCBs, cranes, pavers, rollers, excavators, and more.
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