Frequently Asked Questions
What will my interest rate be?
Our interest rate starts from 14%*.
What are the benefits of Shriram Construction Equipment Finance?
You can avail several benefits from Shriram’s Construction Equipment Finance. We offer up to 100% finance for construction equipment at attractive interest rates, flexible tenure, more straightforward documentation, quick processing, reduced down payments and customised EMI payments.
How to use this EMI Calculator?
- Use the slider for selecting the loan amount
- Select the loan tenure in months using the slider
- Move the slider and select the interest rate
- EMI will be calculated immediately when you move the sliders
- You can recalculate your EMI anytime by changing the input sliders
What is the required down payment for the equipment loan?
The down payment is the balance between the equipment price and the loan amount for the construction equipment you will pay.
What is an EMI Calculator?
An EMI calculator is a utility tool which helps you to calculate the amount you repay each month towards your loan. You can use the EMI calculator to calculate the EMI amount and analyse the total amount payable.
Who is eligible to avail a Construction Equipment Finance from Shriram?
The minimum requirements to avail the loan are as follows:
- Must be 18 to 60 years old.
- Must be in transport or related business.
- Must have a stable work record in transport and related business for a minimum of 6 months.
How long will it take to sanction the loan?
Shriram Finance usually takes three days to sanction the loan after submitting all the documents. However, it varies with factors such as the type of loan you opt for, the measure of funding, amount, etc.
Is there any security or collateral required to get a construction equipment loan?
No collateral is required, as the construction equipment purchased becomes the security for the loan availed.
What is the credit score required to get the loan?
Income capacity and financial stability are essential for business ventures or any individual. However, you can get the best offers and attractive interest rates with a good credit score.
What is an EMI?
EMI or equated monthly instalment is the fixed payment that the borrower makes to the lender. EMIs pay back the principal and the interest for each month, and the loan is fully repaid within a specified number of months or years.
Easy & Quick Disbursals on Construction Equipment Finance