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Loan Products > Heavy Equipment

Equip Your Business for Bigger Work

Some work demands more than skill and commitment; it needs the right machinery behind it. MHPL provides financing for eligible heavy equipment purchases, helping businesses invest in the capacity required for work of greater scale and lasting impact. From construction and infrastructure to other equipment-led operations, heavy machinery helps turn ambitious plans into work that moves forward. Our financing helps spread the cost through manageable instalments, with assessment based on the asset and your business requirements, alongside clear guidance on applicable terms.

Loan at a glance

25%

Minimum Down Payment

8.75% - 10.99%

Starting Rate

60 Months

Max Tenure

Brands

Foton
Eicher
JCB

Interest Rates

The more you put down, the less you pay in interest

New Heavy Equipment Rates
SEGMENT DOWN PAYMENT INTEREST RATE TENURE
JCB 50% 8.99% 60 Months
JCB 45% 9.25% 60 Months
JCB 40% 9.99% 60 Months
JCB 35% 10.75% 60 Months
JCB 30% 10.99% 60 Months
JCB 25% 11.75% 60 Months

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Max: 11%

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Let's get your documents ready

A few documents and you're good to go.

IDENTITY

Citizenship copy – Applicant & Guarantor
Valid Driving License
Recent 2 copies photographs
Proof of income source
Residency proof

BUSINESS / PARTNERSHIP FIRM

Registration (with renewal)
PAN
Tax Clearance
Audit Report

PARTNERSHIP FIRM / MULTIPLE SHAREHOLDERS

Company Registration
PAN
MOA/ AOA
Audit Report & Tax Clearance
Partnership Deed and Board Minutes
PG at least 70% shareholder
Latest Share Certificate

*Note: Required documents may vary depending on the nature of the business/ income. The above are the basic required documents.

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Frequently Asked Question

Which equipment do you finance?

Excavators, backhoe loaders, wheel loaders, bulldozers, rollers, cranes, and other construction and mining equipment, new JCB Brand, through authorized dealers and importers.

Who is eligible?

Registered contractors, construction companies, quarry and crusher operators, and other businesses with relevant experience and a verifiable order book or income. Individuals with proven earnings from equipment hire may also apply.

How much down payment is required?

A higher margin than for ordinary vehicles may apply, typically 30% or more, depending on the equipment type and your profile. The exact amount is confirmed during the loan process/sanction.

What documents do I need?

Citizenship certificate, PAN, company or firm registration, contractor licence, details of current and past projects and contracts, bank statements for 6 months, tax clearance, equipment quotation or invoice, and financial statements. Additional documents may be requested at the time of the loan process if required for loan assessment.

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