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Money matters

Eligibility for Construction Equipment Loan

Construction equipment loans are business loans offered to builders and contractors engaged in infrastructure development in the construction industry. Keeping with the thrust towards infrastructural development, we, at YES BANK, provide the required financial solutions to all kinds of enterprises that work towards building infrastructure.

Overview

  • Not only do we facilitate the purchase of a wide range of equipment, with our 60-month loan tenure and customised EMI plans you get to avail of easy repayment options at the most attractive interest rates.
  • We, at YES BANK, seek to provide you with our attractive schemes in the most hassle-free way possible.
  • The construction equipment loan is no different, and the application process is as simple and transparent as it gets.
  • By filling a simple application form and attaching basic documentation, you can apply for the loan and get an efficient response, given our quick turnaround time.
  • You can also avoid physically visiting our bank branches by logging on to our website and applying online for the loan directly or through our phone banking services.

However, unlike regular business loans, construction equipment loans are offered to a specific category of people, who are engaged in the commercial construction sector. In order to apply for the funds provided under this scheme, you must fulfil the following eligibility criteria:

  1. A person must be either
  • A self-employed individual, sole proprietorship firm, company, partnership firm, limited liability partnership or a private trust
  • A captive customer, mine owner or a contractor
  1. They must have
  • Minimum 2 years’ business experience
  • Ownership of construction equipment
  • Favourable track record with the existing bank over the past 12 months

Once you have established your eligibility for the funds, you may apply and avail our lucrative schemes based on your requirement. We provide up to 100% financing when it comes to the purchase of construction equipment.

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