IndiaBanks.org · independent research

Business, & agriculture finance

Canara Easy Equipment Finance

Term loan or pre-approved line of credit for new construction equipment, above ₹10 lakh and up to ₹100 crore according to risk grade, repayable over 36–60 .

Facility amountAbove ₹10 lakh; maximum ₹50 crore for BBB/BB or CNR VI/VIII risk grades and ₹100 crore for AAA/AA/A or CNR V/Low Risk III grades.RateMinimum RLLR and maximum RLLR + 0.70% p.a., subject to the linked MSME schedule.Customer typeExisting/new MSME EPC and other contractors (not trade contractors or equipment suppliers) with more than two years in business; a line of credit additionally needs one year satisfactory Canara dealings.
Official product page ↗Compare category

Quick eligibility check

Canara Easy Equipment Finance

0 of 8 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: Existing/new MSME EPC and other contractors (not trade contractors or equipment suppliers) with more than two years in business?

Published source: Customer type

2Do you meet this requirement: a line of credit additionally needs one year satisfactory Canara dealings?

Published source: Customer type

3Do you meet this requirement: Contractor must have more than two years' business, no overdue at sanction and required registration/licence?

4Do you meet this requirement: line of credit also needs one year satisfactory Canara dealings and regular working-capital limit?

5Document checkDo you have this required document or proof: NF998 MSME application and KYC?

Published source: Documents

6Document checkDo you have this required document or proof: Unit/promoter address proof?

Published source: Documents

7Document checkDo you have this required document or proof: Contractor licences/permissions?

Published source: Documents

8Document checkDo you have this required document or proof: Three years financial papers with ITR/projections?

Published source: Documents
0 of 8 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 4 Sept 2026 · active
Offered byCanara Bank

India through Canara Bank branches

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Customer typeExisting/new MSME EPC and other contractors (not trade contractors or equipment suppliers) with more than two years in business; a line of credit additionally needs one year satisfactory Canara dealings.View source
Complete target and eligibility sections reviewed.
Source
Canara Easy Equipment Finance
Page / section
Target group / eligibility
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Turnover / vintageMore than two years in business; no numeric turnover floor is published. No overdue may exist at sanction and the firm must not have incurred a previous-year loss.View source
Complete eligibility/conditions section reviewed.
Source
Canara Easy Equipment Finance
Page / section
Eligibility and conditions
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Facility amountAbove ₹10 lakh; maximum ₹50 crore for BBB/BB or CNR VI/VIII risk grades and ₹100 crore for AAA/AA/A or CNR V/Low Risk III grades.View source
Complete risk-grade quantum table reviewed.
Source
Canara Easy Equipment Finance
Page / section
Quantum of loan
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
RateMinimum RLLR and maximum RLLR + 0.70% p.a., subject to the linked MSME schedule.View source
Published range reviewed.
Source
Canara Easy Equipment Finance
Page / section
Rate of interest
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
RepaymentTerm loan repayable in 36–60 EMIs; line of credit coincides with existing working-capital tenure and each term-loan draw follows term-loan repayment terms.View source
Complete repayment section reviewed.
Source
Canara Easy Equipment Finance
Page / section
Repayment period
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Security / marginTerm-loan/line-of-credit margin 5%–20%; primary hypothecation of construction equipment, with collateral as per extant Canara guidelines. CGTMSE/CGFMU applies wherever eligible.View source
Complete margin/security section reviewed.
Source
Canara Easy Equipment Finance
Page / section
Margin and security
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
FeesApplicable Canara service charges; no fixed numeric processing fee is printed on the reviewed scheme page.View source
Complete page reviewed; charge schedule is referenced.
Source
Canara Easy Equipment Finance
Page / section
Charges review
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
DocumentsNF998 application, KYC/address proof, contractor licences, three years financial papers with ITR/projections, guarantor asset details, valuation report, stock statement and equipment quotation.View source
Published document list reviewed.
Source
Canara Easy Equipment Finance
Page / section
Documents
Accessed
4 Sept 2026
Confidence
high
Open official source ↗
Geographic limitsIndia through Canara Bank branches.View source
National scheme page reviewed.
Source
Canara Easy Equipment Finance
Page / section
Availability
Accessed
4 Sept 2026
Confidence
medium
Open official source ↗

Benefits and features

  • Minimum above ₹10 lakh
  • Maximum ₹50 crore for BBB/BB or CNR VI/VIII risk grades and ₹100 crore for AAA//A or CNR V/Low Risk III
  • Term-loan repayment 36–60
  • to + 0.70%

Eligibility

  • Contractor must have more than two years' business, no overdue at sanction and required registration/licence; line of credit also needs one year satisfactory Canara dealings and regular working-capital limit.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • NF998 application and
  • Unit/promoter address proof
  • Contractor licences/permissions
  • Three years financial papers with /projections
  • Guarantor asset details
  • Valuation report
  • Stock statement
  • Equipment quotation

Related official documents

Canara Easy Equipment Financeofficial-product-page · current · accessed 4 Sept 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Laghu Udhyam Credit Card · CustomerArtisans/village industries/ with 3-year dealings

This value is copied from Canara credit and equipment schemes. Check the table notes before relying on it.

Source: Canara specialised pages · Complete product tables Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 3 rows · 7 columnsCanara MSME credit and equipment schemesView tableHide table

Scroll sideways to view every column

Canara MSME credit and equipment schemes
ProductCustomerFacility amountRateSecurity / marginRepaymentFees
Laghu Udhyam Credit CardArtisans/village industries/ with 3-year dealingsAggregate ₹10 lakh to + 1.00%Nil collateral/guarantee up to ₹10 lakh; where eligible3 years, annual reviewAmount not published
Solar VendorMNRE-registered solar vendorsAbove ₹10 lakh–₹5 crore to 9.75%25% WC margin; /hybrid/collateralWC 1 yearAmount not published
Easy Equipment FinanceEPC/other contractors with 2+ yearsAbove ₹10 lakh; ₹50 crore standard risk / ₹100 crore low risk to + 0.70%5%–20% margin; equipment hypothecation36–60 Schedule applies
Canara specialised pages · Complete product tables · accessed 4 Sept 2026Open official source ↗

More from Canara Bank

Related products

Canara Bank Guarantee

Non-fund-based guarantee facility for financial, performance and deferred-payment obligations, with margin, security, commission and period set under Canara Bank norms.

View product

Canara BE-MSME (Manufacturing) Bill Discounting

Concessional bill-of-exchange discounting/purchase for genuine manufacturing trade transactions, including pre-accepted bills and bills drawn under eligible inland letters of credit.

View product

Canara CGTMSE Credit Guarantee

guarantee support for Canara credit up to ₹2 crore, enabling finance with no or partial collateral and third-party guarantee.

View product

Canara Credit Guarantee Scheme for Exporters (CGSE)

Government-backed guarantee support for eligible export working-capital borrowers, covering up to 20% of limits up to ₹50 crore for four years including a one-year moratorium.

View product