Minimal Documentation & Over-The-Counter Disbursement
Instant approvals and paperless transactions with minimal documentation and over-the-counter disbursement
Customised EMI Structure
Choose a repayment schedule based on your needs.
Loan requirement
₹
5000000
Monthly EMI
₹ 5000000
Paperless Transactions
Extensive Equipment Offering
We offer this facility for various equipments including
Backhoe Loaders
Pick & Carry Cranes
Excavators & tippers
Transit mixers and others.
Flexible Repayment Options
Get Clarity. Get Expert Advice.
From AU staff and expert legal and technical vendors.
Support At Each Step
Expert assistance from the start of loan application till the execution
No Hidden Charges
₹0. Complete transparency. Complete assurance.
Tailor-Made Solutions
Credit facilities designed as per your needs and seasonal nature of your business.
Disbursal Within Minutes
Competitive Processing Fees
1042+ Touchpoints In 500+ Cities
Things to know
How to apply
There are two ways to apply:
AU Bank website
AU Bank branch
Eligibility
The following entities are eligible to avail a Construction Equipment Loan from AU Bank:
- Contractors
- Hirers and Mine Owners who have the ability and experience in running/deployment of similar assets
- Formal contracts in hand/ small petty contracts
- Road contractors
- Prior credit history, if any, should be satisfactory
- Customers require to fulfill our credit norms to avail Used Construction Equipment Loans
Rates & charges
Interest rate
- Up to 17%
Loan processing charges
- Up to 2% of loan amount
Documentation charges
- Up to ₹5,000
Overdue interest charges
- 3% per month on outstanding amount
Prepayment/ foreclosure charges
- 5% of balance amount, if paid before 12 months
- 3% of balance amount, if paid after 12 months
Collection Charges
- ₹600 per visit
Cheque/ SI/ ACH/ ECS return charges
- ₹500
Issuance of duplicate NOC
- ₹500
Statement of Account
- ₹500
Duplicate amortisation/ repayment schedule
₹500
Swap Charges (Replacement of PDC/ change of bank)
₹1,000
Stamp duty
As per your state’s Stamp Act
Stamping expenses*
₹200
Foreclosure statement charges
₹500
Change in instalment date
₹500 plus difference period interest (if any)
Duplicate copy of property/ loan document
₹1,000
Valuation charges for used/ refinance vehicles
Up to ₹1,000
Special NOC without removing of Hypothecation
₹500
Vintage model fees (applicable if vehicle model is more than 10 years old in 4W & 6 years in 3W (including GST)
₹1,500
Legal/ SARFAESI / incidental charges
At actuals
Repossession charges
Up to ₹10,000
Tele collection charges
₹40
Ledger Folio charge (including GST)
Up to ₹3,000
Legal & courier charges
₹1,100
Default collection charge
₹708
RC charge
₹250
RTO charge
At actuals
Repo charges and other related charges
At actuals
Vehicle shifting charges
At actuals
ROC filing charges
₹2,000
SPDC waiver charge
NA
PDD charge
NA
Cash collection charges on more than ₹20,000 (at the time of prepayment/ foreclosure only)
₹5 per thousand for cash collection
Cheque/ disbursement/ loan cancellation
₹1,000 (within 7 days of cheque issue date)
₹1000 + interest (up to cancellation period)
*If stamp duty is purchased by the bank on behalf of the customer.
Please note:
- Charges are as applicable for the respective wheels product variants as defined by AU Small Finance Bank.
- The above charges are subject to revision with prior intimation of 30 days to all account holders.
- GST and other government taxes applicable as per prevailing rate will be charged over and above the fees and charges.
- Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank will be sent free of charge.
- Bank does not levy any loan-related and adhoc service charges/ inspection charges on priority sector loans up to ₹25,000.
- On delay in ROC charge filing within the stipulated period, additional expenses/ fees at actuals shall be levied.
- In case of floating rate, wheels loans offered for ‘Other than Business’ purposes to individual borrowers with or without co-obligant(s), no prepayment/ foreclosure charges shall be levied.
- The terms and conditions, as defined by AU Small Finance Bank, apply. Please refer to www.aubank.in for further details.
- The charges are revised with effect from March 1, 2024.
Documents required
- Loan application form
- Identity proof
- Address proof
- Other relevant documents
Get more with Vehicle loans
Things to consider Before you avail a Personal loan
-
Consider the interest when deciding on a loan tenure.
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Avoid applying for a disputed property.
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Keep an eye on your credit card purchases before applying for a loan.
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Avoid making major life changing decisions like a job change to avoid default on loan repayment.
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Taking on a big loan? Pair it with insurance. This way, your loved ones will be protected.
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Share loan responsibility with a co-applicant. Women can avail a lower rate of interest.
Why AU
-
National presence
Bank with us through a network of 2,900+ touchpoints .
-
Get a bit more
Enjoy quality services at competitive rates.
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Visit branches without the wait
Our ample touchpoints ensure all our customers are conveniently served.
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Superfast app
Manage and track all your transactions on the AU 0101 App.
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Sustained growth
Expanding by every quarter, with a balance sheet of over ₹1 lakh crore.
Bank anywhere anytime, on the AU 0101 mobile app
-
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View balance and transactions
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Download account statement
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Request cheque book
40+ lakh customers banking on app
Our range of cards for your range of needs
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Xpress EMI
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Silverspoon Dining Program
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300+ exclusive AU Rewardz
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Customer support
24x7 help
Frequently Asked Questions (FAQs)
What is the minimum loan amount threshold for real estate funding?
There is no minimum threshold, the loan amount is evaluated on basis of balance construction, cost of the Project and financial gap arising due to mismatches in project inflows and outflows
What would be the collateral required?
Mortgage on Project Land and hypothecation of project receivables are mandatory collateral requirement.
In how many years do I have to repay the loan amount?
Loan tenure is decided basis the balance completion period of the project and it varies from case to case basis.
What are the benefits of availing loan from your Bank?
We caters to Small, Medium, and Large Developers for all types of projects comprising of duplexes, high rise apartments, villas, townships, affordable housing projects and commercial projects.
What is the instalment schedule for loan repayment?
Installment schedule is normally equated monthly installments (it could be quarterly or Half yearly in case of Tractor loans) subject to the terms & conditions of the repayment schedule and Repayment instrument for EMI will be presented (as per registered repayment mode) on EMI Due date as specified in the schedule/sanction letter. To overcome operational issues ,holidays etc., It is advised to keep sufficient balance in bank accounts 2-3 days prior to due date of EMI ,for clearance of EMI on due dates ,to avoid penal Interest and other charges and avoid delinquency status. and further schedule can be tailored to customer's specific requirement at AU Small Finance Bank’s discretion. We do not allow balloon repayments or step up structures
What are the modes available for repayment of instalments?
Repayment can be done through Standing Instructions to your AU Small Finance Bank account, Cash Deposit, Cheque, or Automated Clearing House (ACH).
