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Funding for wide variety of equipment
Get funding on wide varieties of equipment ranging from earthmoving, mining, material handling, road construction, concrete and material processing equipment’s.
Wide range of products
Choose from a wide range of products including new equipment finance, refinance, balance transfer, working capital, asset insurance and opt for a financial solution that meets your business requirement.
Wide outreach
Get your loan processed across the country with our wide network spanning across India.
Simple process
Getting finance for your equipment is now hassle-free with minimal documentation and quick turn-around time.
- Any individual / proprietor / partnership firm / company with more than two years of relevant business experience.
- Applicants using equipment for captive, mine owners, contractors or hirers.
- Specific interest rate applicable to a customer would be based on factors such as customer profile, relationship and tenure of loan etc.
- Stamp duty charges shall be extra as applicable
- Additional documentation charges as applicable
- ICICI Bank reserves the right to revise the rate of interest and processing fee from time to time, at its sole discretion
The loan amount depends on applicant’s profile, nature of work, proposed asset, etc. and is subject to internal policy of ICICI Bank.
Funding can be Maximum up to 95% of the invoice value
Loan will be sanctioned basis the approved Policy and process of the Bank.
The tenure of the loan may vary from 12 to 60 months, depending upon the nature of the deal and the repayment capacity.
Repayment can be made through ECS / NACH or Auto-Debit (in the case of ICICI Bank account holders).
Prepayment of the loan is allowed, at a charge indicated on the ‘Service Charges’ page.
Application Process
- Please click here if you wish to apply online and we will send our representative to visit you; OR contact our representative near your residence/office and he will help you fill the application form. There is no need for you to visit our office. All the formalities will be completed at your doorstep itself.
- The construction equipment for which the loan is provided needs to be hypothecated to ICICI Bank Ltd. The invoice / Registration Certificate (RC) copy of the equipment needs to carry the hypothecation. Equipments which are not registered with Regional Transport Office (RTO), need to carry charge in favor of the Bank.
