Equipment finance
Machinery finance and machinery loans for Australian businesses
Machinery finance is a loan or lease secured by the machine you are buying, from a CNC router or packaging line to a tractor or earthmover, usually repaid over one to seven years. All four major banks write it, as do Bendigo Bank, which publishes 100% finance often with no deposit, and BOQ, which publishes chattel mortgage and hire purchase terms of 1 to 5 years. The structure decides who owns the machine and when you claim the GST, and a broker compares the banks with specialist lenders on the same quote.
- 1 to 7 year terms at ANZ and Westpac; 1 to 5 years at BOQ
- $0 deposit at CommBank and NAB; 100% finance at Bendigo Bank
- Interest-only while a machine is installed, for 3 to 6 months, at BOQ
- Approved funds within 1 business day for eligible customers at Westpac
What is the monthly payment on a $50,000 machinery loan?
| Loan amount | Monthly repayment at | ||
|---|---|---|---|
| 8%p.a. | 10%p.a. | 12%p.a. | |
| $50,000 | $1,014 | $1,062 | $1,112 |
| $100,000 | $2,028 | $2,125 | $2,224 |
| $250,000 | $5,069 | $5,312 | $5,561 |
| $500,000 | $10,138 | $10,624 | $11,122 |
Scroll the table sideways for more rates
Illustrative monthly principal and interest repayments over 5 years, before fees and charges. Rates are examples, not offers; your rate depends on the lender and your circumstances. Run your own numbers.
Move the sliders for your own amount, rate and term. For a balloon and the GST credit, use the full equipment finance calculator.
Machinery finance lenders a broker can compare
These lenders are in our lender directory with an equipment finance product. The broker you are matched with confirms which of them will quote on your machine and in which structure.
| Lender | Products | Current rate |
|---|---|---|
| Australia and New Zealand Banking GroupMajor bank | Products:
| Current rate: ANZ rate card (opens in a new tab) |
| Commonwealth Bank of AustraliaMajor bank | Products:
| Current rate: CommBank rate card (opens in a new tab) |
| National Australia BankMajor bank | Products:
| Current rate: NAB rate card (opens in a new tab) |
| Westpac Banking CorporationMajor bank | Products:
| Current rate: Westpac rate card (opens in a new tab) |
| BankSAMajor-bank brand | Products:
| Current rate: BankSA rate card (opens in a new tab) |
| Suncorp BankMajor-bank brand | Products:
| Current rate: Suncorp Bank rate card (opens in a new tab) |
| Bank of QueenslandTier-2 bank | Products:
| Current rate: BOQ rate card (opens in a new tab) |
| Bendigo and Adelaide BankTier-2 bank | Products:
| Current rate: Bendigo Bank rate card (opens in a new tab) |
| Angle FinanceSpecialist | Products:
| Current rate: Angle Finance rate card (opens in a new tab) |
| EarlypaySpecialist | Products:
| Current rate: Ask a broker |
| GetCapital (Shift)Specialist | Products:
| Current rate: Ask a broker |
| ScotPacSpecialist | Products:
| Current rate: Ask a broker |
Inclusion is editorial reference, not a recommendation. Rates change often, so we only show a rate we captured from the lender's own page in the last 60 days, with a link to that page; otherwise we link to the lender's rate card where it publishes one. The broker you are matched with compares the lenders on their own panel.
See all 13 equipment finance lendersWhich banks provide machinery loans?
Checked against each lender’s own page between 19 and 30 September 2026. Terms change without notice, so confirm them before relying on them. Rates are set for each business and asset, so no rate is shown unless the lender publishes one.
| Lender | What it publishes |
|---|---|
| Westpac | Business equipment loan from $15,000 over 1 to 7 years, secured by the equipment, optional balloon; hire purchase and finance lease also offered; approved funds within 1 business day for eligible customers and assets. |
| CommBank | From $20,000; $0 upfront deposit; no monthly fees; optional balloon; up to 0.50% p.a. off qualifying electric and hydrogen machinery. |
| NAB | No upfront deposit for most purchases; new or used; chattel mortgage or finance lease; 0.5% p.a. off qualifying green equipment. |
| ANZ | 1 to 7 years; optional balloon; rate may be fixed for the term; hire purchase from $7,500; establishment fee. |
| Bendigo Bank | Agricultural, industrial and earth-moving machinery, manufacturing and printing equipment; 100% finance, often with no deposit; optional balloon; current ABN required. |
| BOQ | Chattel mortgage and hire purchase over 1 to 5 years; hire purchase from $20,000 with seasonal rentals, a balloon option and interest-only payments during the first 3 to 6 months while equipment is installed. |
| Unity Bank | Up to 7 years; fixed rate; $250 establishment fee; $0 monthly fee; early termination fee of at least 1.00% of the loan. |
| Grow Finance (Dynamoney) | Loans to $1M; new (0 to 2 years) and used (3+ years) tiers; many decisions within 24 hours. |
Which bank provides machinery loans?
All four major banks, and several regional and customer-owned banks. Westpac, CommBank, NAB and ANZ publish equipment loans that cover business machinery, Bendigo Bank lists agricultural, industrial and earth-moving machinery and manufacturing equipment, BOQ publishes chattel mortgage and hire purchase over 1 to 5 years, and Unity Bank a fixed-rate equipment loan of up to 7 years. Non-bank lenders such as Grow Finance, and the specialist asset financiers that work through brokers, cover machines and files outside the banks’ policies.
Chattel mortgage, hire purchase or lease for machinery?
A chattel mortgage makes you the owner from day one: a GST-registered business claims the GST in the price on its next BAS and deducts interest and depreciation. Hire purchase gets the same GST and income tax result, with the lender holding title until the last payment. A finance or operating lease leaves the machine with the lessor; you deduct the rentals and claim the GST on each one, and at the end you pay the residual, hand it back or upgrade.
- Keeping the machine for its working life: chattel mortgage or hire purchase.
- Replacing it on a cycle, or wanting the lessor to carry the resale risk: a lease.
- Cash flow that swings with the season: ask for seasonal rentals (BOQ publishes them on hire purchase).
Installation, commissioning and the first repayment
A production line or large machine can take months to install before it earns anything. BOQ publishes an escrow arrangement with interest-only payments while equipment is installed and commissioned in the first 3 to 6 months, and Westpac an option of three months before the first repayment. Ask for the structure at quote stage; it is harder to change after settlement.
New or used machinery
NAB and Westpac publish finance for new or used equipment, and Grow Finance prices new (0 to 2 years old) and used (3 years or more) assets on separate tiers. For a used or private-sale machine, expect questions about age, hours and condition, and for a private sale, proof of ownership and a PPSR search. Older machines may need an inspection or valuation.
For the structures in detail, see the chattel mortgage, hire purchase and finance lease guides, or start from the equipment finance hub.
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are calculated on a secured loan of $150,000 over 25 years for home loans, a loan of $30,000 over 5 years for car and personal loans, and $50,000 over 5 years for equipment finance, unless the lender states another basis.
Machinery finance FAQs
Which bank provides machinery loans?
What is the monthly payment on a $50,000 business loan?
Who has the best equipment financing?
Can I finance used machinery?
Can I get machinery finance with no deposit?
How long can machinery be financed for?
Ready to compare machinery finance?
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