SME Loans By Reliance Capital
Construction Equipment Loans - Overview
Whether you're looking to raise a bigger business or play your part in uplifting the nation’s infrastructure, Reliance Construction Equipment Loans is there to partner you with customised finance options.
We offer unique financial solutions for an entire range of new and used construction equipment, whether it’s civil or road construction equipment, mining equipment, material handling & concerting equipment etc.
Construction Equipment Loans - Features
- Loans available for an entire range of new and Used Construction equipments viz.
- Civil/Road Construction Equipments
- Mining Equipments
- Material Handling Equipments
- Concreting Equipments, etc.
- We cater to all segments of customers ranging from first time users to super strategic customers.
- Floating Rates of Interest offers available
- General Insurance on equipments to be purchased as well as renewal of Old Assets available through us
- Term Life Assurance through Bharti Axa Life Insurance available with our loans as well as renewal of Old Asset available through us.
The benefits you receive on our loans:
- We have made our documentation absolutely simple and hassle-free.
- Our presence in multiple locations lets you have quicker access to funds and repayment
- Faster turnaround time ensures, speedy disbursals.
- We offer attractive interest rates
- Our loan tenures are kept flexible suiting any repayment capacity.
- The mode of repayment too has been made most convenient for you as we accept payments through cheques and electronically.
- We also have various insurance products which can be coupled with our loans. (Insurance will be offered through Reliance General Insurance Co. Ltd./Reliance Life Insurance Co. Ltd. )
Construction Equipment Loans - FAQs
FAQs on Construction Equipment Loans
Who can avail of Construction Equipment Loans?
- You can avail this loan if you are and Individual, Self employed Businessmen, Proprietorship firms, Partnership Firms, Trusts/Societies, Private and Public Limited Companies.
- We fund people who are first time buyers for specific assets like as well as fleet owners.
- Clients engaged in mining activities, road constructions, civil constructions, port activities, other infrastructure related activities and Shipping activities can also approach us for funding of their Construction Equipment requirements.
Who can be the co-applicants for the loan?
- For salaried/Self employed/ Proprietorship:Any one family member.
- For Partnership Firms: One Partner.
- For Trusts: One Trustee.
- For Private/Public Ltd. Companies: One Director
Do I need a guarantor?
- If the documents submitted by you do not completely fulfill our credit criteria,
then you would be required to provide us a guarantor.
What are the lending rates?
- As per approved rack rates from time to time. Please contact us for further details.
What are the loan tenure options?
- Loan tenure can range from 12 months to 60 months.
Which Construction Equipments can be financed?
- All earthmoving equipments , construction equipments, construction vehicles
& material handling equipments, of all manufacturers.
How much finance can I avail of?
- You can avail finance depending upon your existing fleet size ,work order
(if available), balance sheet (if applicable etc.).Please contact us for further details.
How is the interest charged/calculated?
- Interest is calculated on a monthly reducing balance basis.
What is a Monthly Reducing Balance?
- In the case of monthly reducing balance method, the principal gets reduced at the end of every month and the interest is calculated on the outstanding principal at the end of the month.
Do I have to pay any additional charges?
- We will charge a processing fee for processing of your loan. In addition to this you will be required to pay the stamp duty at actual. Please refer the fees and charges section for additional details.
How do I approach for a Construction Equipment Loan?
- You can approach us in any of the following ways
- SMS CV to 55454
Please click on apply now section and fill up the details. We will get in touch with you.
How long will it take to process the loan?
- Your loan can be processed within 4 working days from the date you submit the complete papers to our representative. However if we receive all the relevant papers earlier, the process can be done faster.
What are the stages involved in availing a loan?
The stages involved are:
- Sanctioning of the loan
What security/collateral do I have to provide?
- Asset financed will be hypothecated/lien marked in favor of RELIANCE CAPITAL LIMITED.
Do you offer an Insurance Facility for Commercial Vehicle Loans?
- Yes. The Insurance facility is provided through a tie–up with our Group Company(Reliance General Insurance Company Limited or Royal Sundaram General Insurance Co. Ltd).
Is the EMI charged as Advance EMI or Arrears EMI?
- Both the options are available suiting to your needs.
How do I repay the loan?
- EMI’s in the form of PDC’s(Post Dated Cheques)and through Electronic Clearing Service(ECS).On a case to case basis we also offer monthly billing mode where we do not collect PDC’s in advance, however the customers will have to deposit the installment amount in our designated offices on or before the date of installment.
Do I have the option of pre-paying the entire loan amount?
- Yes. One can pre-pay the loan any time after 6 months of availing of the loan. One merely has to pay a small prepayment fee on the outstanding loan amount
If I am not able to furnish my income documents is there a special scheme for persons like me?
Reliance Capital, a constituent of CNX Nifty Junior and MSCI Global Small Cap Index, is a part of the Reliance Group. It is one of India's leading and amongst the most valuable financial services companies in the private sector.
Reliance Capital has interests in asset management and mutual funds; life and general insurance; commercial finance; equities and commodities broking; wealth management services; distribution of financial products; asset reconstruction; proprietary investments and other activities in financial services.
Reliance Mutual Fund is amongst top Mutual Funds in India with over five million investor folios. Reliance Life Insurance and Reliance General Insurance are amongst the leading private sector insurers in India. Reliance Securities is one of India’s leading retail broking houses. Reliance Money is one of India’s leading distributors of financial products and services.
Reliance Capital has a net worth of Rs. 13,547 crore (US$ 2.2 billion) and total assets of Rs. 47,440 crore (US$ 7.6 billion) as on March 31, 2015.