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The interest rate for machinery finance depends on the lender, loan amount, and borrower profile. Typically, it ranges between 8% and 15% per annum.

Yes, many lenders accept machinery as collateral for secured loans.

MSME machinery loan rates can start from as low as 7.5% per annum, depending on the scheme and lender.

Several banks, NBFCs, and financial institutions offer machinery loans, including private and public sector lenders.

Many lenders provide refinancing options to replace your existing machinery loan with a better interest rate or repayment term.

Eligibility varies by lender but generally includes having a registered business, stable income, and good credit history.

It can be either secured (backed by collateral) or unsecured, depending on the lender and loan product.

Machinery Loan FAQs