Construction Equipment Loans in Mumbai

Construction equipment loans are loans that availed for purchase of Construction Equipment that required for setting up your construction business. Needless to say that there are not many organizations that offer loans for purchase of construction equipment, therefore, here are certain facts about your construction equipment and loan offers on construction equipment loan that will help you fetch the best construction equipment loans in town.

Construction equipment loan can be made use of to purchase construction of any sort and type from brand new equipment to used equipment required to meet the needs of your construction business. Construction equipment loan can also be availed for purchase of construction equipments that are used by either mine owners, or road contractors or builders, etc.

Some Salient Features and Benefits of your Construction Equipment Loans in Mumbai
  • Loan Amount: You can obtain finance for purchase of construction equipment in your city Mumbai. The loan amount that can be obtained for the procurement of construction equipment is around 95% of the total value of your construction equipment.
  • Rate of interest: The Rate of interest that is applicable on construction equipment loan is around 12% p.a.
  • Loan Tenure: Normally the loan tenure for the purchase of construction equipment is around 12 to 60 months, however loan tenure can be decided as per your capability to pay back the loan amount as well as your affordability which you can choose as per your convenience.
  • Repayment Modes: The mode of repayment can be decided as per your choice. You can choose to pay back the loan amount either though Equated Monthly Installments (EMI) or Post dated cheques (PCD) as per your convenience.
  • Nil Fore-Closure Charges: You can choose from banks that offer you a Nil Fore-closure charges pr zero penalty on pre-payment of your construction equipment loan. This will put you at an advantage of paying back per your convenience and also as and when you want you can choose to close your loan amount.
  • Insurance Cover for Construction Equipment: You can choose an insurance cover on the construction equipment you are purchasing through construction equipment loan, this will help you or your dear ones to pay the loan amount in case of any loss or damage to the equipment or your life that can be caused due to any force majeure event.
Eligibility Criteria to Avail Construction Equipment Loans in Mumbai
  • Any individual, partnership firm or an organization with over two years of business experience can apply for a construction equipment loan in Mumbai.
  • If you already an owner of one or two construction equipments you are also eligible to buy construction equipment y taking construction equipment loan.
  • You are also eligible to buy construction equipment if own a mine or a contractor to the mine.
Enlisted Below are Documents that will be Required to Avail Construction Equipment Loans in Mumbai
  • Passport Sized Photographs
  • Identity Proofs
  • Address Proofs
  • Duly filled application form
  • KYC Documents
  • Residential Proof
  • Six Months Bank Statement
  • P&L statement/ Balance Sheet duly audited by CA (In cases where you are running your own business)
Apply for Construction Equipment Loan in Mumbai
  • Letzbank is one-stop-shop for all your construction equipment loan queries.
  • After your have obtained a quote for and have shortlisted the construction equipment you wish to purchase, all you need to do is to logon to letzbank and submit your application for the required loan amount from anywhere across the country.
  • We have a reliable team of customer care executive who will get back to you and facilitate genuine construction equipment loan offers.
  • Our online services are absolutely free of cost for all our online customers.