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Union Bank of India is one of the top public-sector banks in the country. It has a strong history of helping MSMEs and large companies with a range of financial services. Its extensive branch network and digital infrastructure allow for quick lending across various sectors. One of its standout offerings is Union Equipment Finance, which aims to provide businesses with scalable, asset-based financing solutions tailored to their specific operational needs.
The Construction Equipment Loan from Union Bank serves contractors, builders, and mining companies looking for financing for new and used machinery. Through partnerships with manufacturers like SANY India, the bank offers loans for construction and mining equipment, making it easier to buy heavy-duty machines such as excavators, cranes, dumpers, and pavers. Key features include fast loan processing through dealer connections, flexible repayment options that match project timelines, expert machinery valuations, and competitive interest rates.
Under the Commercial Vehicle & Construction Equipment Loan program, Union Equipment Finance helps businesses acquire essential assets without straining their working capital. This initiative provides direct loans, lease options, and lines of credit tailored to cash flow cycles. With benefits like low down payments, tax-efficient leasing, and vendor-supported financing, businesses can obtain new or used machinery with strong support after the loan is disbursed. Whether choosing an Equipment Machinery Loan or refinancing with a Loan Against Construction Equipment, Union Bank offers clear and responsible equipment financing aimed at promoting sustainable industrial growth.
Calculate your loan EMI in 3 easy steps. Use EMI calculator to estimate your EMI and total amount payable.
Union Bank extends Construction Equipment Loans to individuals, proprietors, partnership firms, private/public limited companies, and SMEs engaged in construction, mining, and infrastructure projects. Applicants must have stable income, clear repayment capacity, and valid business registration documents.
Aadhaar, PAN, voter ID, passport, or driving license.
GST registration, trade license, company incorporation, or partnership deed.
Last 2 years’ audited financial statements, ITRs, and 6-month bank statements.
Proforma invoice (new) or valuation certificate (used).
Hypothecation of the equipment; additional security may be requested for higher loan amounts.
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.
The loan covers a wide range of equipment including excavators, backhoe loaders, wheel loaders, cranes, pavers, compactors, tippers, concrete mixers, drilling rigs, dump trucks, graders, and forklifts. Both on-road and off-road machinery used in core projects are eligible.
The minimum margin required for the equipment finance loan is ranging from 5 % to 10 %
All MSME and Non MSME (Contractors only in case of new to Bank) are eligible to avail the Union Equipment Finance Loan for purchase of heavy equipment’s.
Union Bank offers funding of up to ₹50 crore based on your business profile, equipment cost, and repayment capacity. The loan amount may vary depending on whether the asset is new or pre-owned.
No Collateral is required for availing finance under Union Equipment Finance Scheme. Banks hypothecation will be charged over the equipment to be purchased out of the bank finance.
You can choose a repayment tenure of up to 7 years, including a grace period. Repayment schedules are structured to match your project cycles or seasonal revenue patterns.
Yes, Union Bank provides financing for pre-owned machinery. A valuation is carried out by a certified expert to determine asset condition, market value, and eligibility.
Loan approvals are typically processed quickly — especially if you’re buying from an approved dealer. Processing time may range from a few days to two weeks, depending on documentation and asset type.
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