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Introducing the First-in-industry IDFC FIRST Bank's Super Account
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You gain a dedicated partner committed to helping you reach your full potential and achieve new heights
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- Account for all Domestic businesses
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Convert the idle funds in your current account into a fixed deposit with the BRAVO feature.
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Empower Your Manufacturing Growth with the Right Machinery
Financing Available up to ₹10 Crores
Up to 100% Funding on Machinery Value
Flexible Tenures of up to 10 Years
Machinery Finance
Upgrading or acquiring advanced machinery is critical for scaling manufacturing operations and improving productivity. A machinery finance helps you invest in modern equipment without putting pressure on your working capital. IDFC FIRST Bank’s machinery finance designed to support manufacturers with flexible repayment options, competitive interest rates, and quick processing. Whether you plan to expand capacity, replace outdated machines, or adopt new technology, this machinery finance solution ensures you meet business goals efficiently while maintaining financial stability.
Features & Benefits of Machinery Finance
Investing in machinery should be seamless and stress-free when you choose the right financial partner. IDFC FIRST Bank offers machinery finance tailored to your operational needs.
Enjoy higher loan amounts of up to ₹10 crore
Get flexible loan tenures ranging from 1 to 10 years
Attractive interest rates starting at just 10.49% per annum
Enjoy up to a ₹3 crore loan with no additional collateral required
Up to 100% financing, including coverage for annual maintenance cost and applicable taxes
Business-Focused Solutions
The loan structure is designed specifically for manufacturers, supporting expansion, automation, and operational efficiency.
Eligibility criteria for machinery finance
IDFC FIRST Bank machinery finance is available to manufacturers meeting the following criteria:
- Target Segments– MSMEs, Proprietorships, Partnerships, LLPS, and Pvt/Public Ltd Companies, Businesses looking to scale production
- Eligible Business Profiles - Manufacturing Units, Workshops & Fabricators, Tooling & Component Manufacturers
- Age - Between 25 and 68 years of age.
- Business Vintage - 3 Years
- Financial Health - Positive net worth and consistent cash profits
Meeting these criteria improves your chances of smooth approval and competitive loan terms.
Machinery Finance documents
Proper documentation helps ensure faster processing of your machinery finance application. The following machinery finance documents are generally required:
- KYC Documents
- Proof of Ownership (Office/Residence)
- Business Registration Proof
- Bank Statements (Last 6–12 months)
- Latest 2 Years ITR & Financials (if applicable)
- Machinery Quotation/Invoice
This list is indicative. Additional documents may be requested based on your profile. Your relationship manager will share the final checklist.
Machinery Finance EMI Calculator
- Principal amount ₹10,00,000
- Interest amount ₹1,86,000
- Total amount payable₹11,86,000
Interest Rate & Fees Applicable for Machinery Finance
The interest rate and charges for machinery finance depend on multiple factors such as business profile, creditworthiness, and loan amount.
- Interest Rate Starting from 10.49% per annum
- Processing fee Up to 3.5% of loan amount
- Late payment charges 2% of unpaid EMI or ₹300 (whichever is higher) per month
- EMI pickup/collection charges ₹500
- EMI bounce charges 7.5% of EMI (Min ₹400, Max ₹1000, excl. GST)
- Overdue handling charges At actuals + taxes
- Technical bounce charges Same as EMI bounce charges
- Repayment instrument swap charges NIL
- Duplicate NOC/NDC ₹500
- Statutory/facilitation charges On actuals
- Cancellation & booking charges ₹10,000 + interest (conditions apply)
- Foreclosure charges 5% of Principle loan outstanding provided:
A. Foreclosure charges to be NIL for Micro & Small enterprises whose loan amount is <= INR 50 lakh and 5% + GST for Loan amount >INR 50 lakh
B. For Medium enterprise and non-MSME customers, foreclosure charge to be 5% irrespective of Loan amount BH approval to be taken for any deviation to be above. - Stamping Charges As per actuals
Exact rates and fees are communicated during loan sanction.
How to Apply for Machinery Finance
Applying for a machinery finance with IDFC FIRST Bank is simple and convenient.
Step 1
Click on 'Apply Now'
Step 2
Submit the required details
Step 3
Our representative will contact you within 24 hours
Step 4
Your application will be evaluated for eligibility
Step 5
Once verified, get the loan amount in your bank account.
Product Segmentation for Machinery Finance
IDFC FIRST Bank offers machinery finance solutions to manufacturers across key industrial segments.
T&Cs apply. All decisions are at the sole discretion of IDFC FIRST Bank
Frequently Asked Questions
What is a machinery finance?
A machinery finance is a type of business loan that helps manufacturers purchase new or used machinery and equipment. It allows you to spread the cost over a fixed tenure while continuing normal operations.
