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Infrastructure is a major focus area for the economic growth and Construction Equipment machinery forms a major part of the Infrastructure Segment.
With Governments’ focus on infrastructure growth, Construction Equipment segment plays a critical role in development of our Nation.
Get funding on wide variety of equipment ranging from earthmoving, mining, material handling, road construction, concrete and material processing equipment’s.
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 tenure of the loan may vary from 12 to 60 months, depending upon the nature of the deal and the repayment capacity.
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.
Click here for Loan Application form
Click here for Loan Agreement Booklet
Click here for Standard Terms and Conditions for Secured Loan
Click here for Standard Terms and Conditions for UnSecured Loan
Construction Equipment Loans FAQs
- 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 post-dated cheques (PDCs) / ECS / NACH or through 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
Interest is charged on a flat rate based on the scheme applicable for the particular product.
Yes you can, your application can be considered based on the credit strength of your co-applicant Approval will be at the sole discretion of ICICI Bank Ltd.
- Prepayment of the loan is allowed, at a charge indicated on the ‘Service Charges’ page. Click here to navigate.
- Any Sole Proprietorship/Partnership Firm with more than two years of relevant business experience
- Applicants using equipment for captive purpose (equipment used for supporting own business and not to generate direct revenue through equipment), mine owners, contractors or hirers.
To avail a Construction Equipment Loans you will have to submit the following documents:
- Proof of Address e.g. Passport, Ration Card, Voters ID
- Proof of Experience in the relevant area
- Track Record of past loans if availed
- Bank Statement
- ITR in case of specific category of customers
- Additional documents like the financial statements for the last two years as applicable
- Work Contracts to be submitted for higher quantum of funding.
- Udyam Registration Certificate (URC) is mandatory to classify the loan under MSE* (subject to norm fulfilment)
*Micro & Small Enterprise
