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IDFC FIRST Bank, established through the 2018 merger of IDFC Bank and Capital First, is a well-known private sector bank located in Mumbai. The bank focuses on retail and MSME lending. It has become a top machinery finance company, offering tailored solutions for industries like construction, infrastructure, healthcare, and manufacturing. With strong credit ratings and an extensive branch and digital network, the bank sets itself apart from other equipment financing companies by providing reliable and transparent finance for equipment and machinery loans.
The bank’s construction equipment loan program aims to support businesses that need equipment financing for growth. This program includes a wide range of heavy and light machinery, such as excavators, backhoe loaders, cranes, forklifts, and road rollers. Businesses can access financing from INR 5 lakh to INR 1 crore, with tenures of up to 7 years and loan-to-value (LTV) ratios reaching 100%. IDFC FIRST helps businesses invest in necessary tools with confidence. This finance package is ideal for contractors, public works agencies, and SMEs looking for heavy equipment loans.
In addition to construction machinery, IDFC FIRST Bank offers strong machinery loans and finance for machinery through its equipment and machinery loan solutions. These options are available for both new and used machinery needs, serving manufacturers, printers, packaging units, and plastic molders. Financing amounts can reach up to INR 10 crore, with flexible tenures of up to 10 years, minimal documentation, and some collateral-free options up to INR 3 crore. The bank has established itself as a leading provider of equipment loans and construction machinery finance. With interest rates starting around 9%, clear fee structures, and a smooth digital and relationship-based approach, IDFC FIRST Bank addresses the needs of growing businesses in search of dependable equipment financing solutions.
Calculate your loan EMI in 3 easy steps. Use EMI calculator to estimate your EMI and total amount payable.
IDFC FIRST Bank’s Construction Equipment Loan eligibility caters to Indian individuals, proprietorships, partnership firms, private and public limited companies, HUFs, trusts, societies, and OPCs. Applicants typically require a minimum business vintage and revenue, making it ideal for MSMEs and contractors seeking construction equipment finance, machinery loans, and equipment financing for business
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.
Documentation such as GST certificate, MOA/AOA, partner deed, shop act license—required for construction equipment finance eligibility.
Last 6 month Bank statements, ITRs or audited financials of last two years.
Submit supplier quotes and machinery invoices to process your equipment machinery loan quickly and efficiently.
Collateral may include machinery being financed or property when applying for high-value heavy equipment financing.
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IDFC Bank offers construction equipment finance for a wide range of new and used machines including excavators, backhoe loaders, cranes, forklifts, road rollers, and concrete mixers. These heavy equipment loans support multiple industries like construction, logistics, and infrastructure.
Machinery loans are available to individuals, proprietors, partnership firms, private/public limited companies, HUFs, trusts, societies, and One-Person Companies (OPCs) with relevant business experience and income eligibility. This makes it ideal for contractors, builders, and SMEs seeking equipment financing for business.
IDFC Bank provides competitive construction machinery finance interest rates, typically starting around 9% p.a. Final rates depend on applicant profile, business turnover, loan tenure, and equipment type, ensuring accessible finance for equipment and finance for machinery needs.
Applicants must provide KYC (photo ID, address), bank statements/ITR, fleet lists and proof of machinery valuation—aligned with finance for machinery norms
In most cases, the equipment itself acts as primary collateral for the equipment machinery loan. For higher-value loans or special cases, IDFC Bank may request additional collateral, especially for used machinery loan or unsecured machinery and equipment loan.
Yes, IDFC Bank charges a standard processing fee (generally 1–2% of loan amount), along with applicable stamp duty and documentation charges. Transparent pricing ensures your equipment financing company experience remains hassle-free and budget-friendly.
Borrowers can foreclose or prepay the loan before the agreed tenure. Foreclosure charges may apply depending on the loan type and repayment duration. These charges are communicated upfront, ensuring complete clarity in equipment loans repayment terms.
You can avail loan amounts from ₹5 lakh to ₹1 crore with flexible equipment finance tenures ranging from 12 to 84 months. The bank also offers 100% funding options under select schemes, including heavy equipment financing for new machinery.
Yes, IDFC Bank offers used machinery loans for qualified customers. While LTV may vary based on asset condition and valuation, the bank remains a preferred machinery finance company for both new and pre-owned asset purchases.
The equipment loan application is typically processed within 3–7 working days, provided all documents are submitted correctly. IDFC FIRST Bank is known for its fast turnaround and minimal documentation process in construction equipment finance.
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