Recently, a modified equivalent circuit has been proposed for the induction machine model where a single branch rotor resistance is changing as a function of speed to better predict the low-frequency deep-rotor-bar effect. This paper presents an online parameter identification procedure based on capturing the start-up transient and loading of the motor. The proposed procedure is simple and carried out on-the-fly while switching on the machine to the nominal voltage. A 3-phase off-the-shelf induction machine is fully characterized using the proposed procedure. Experimental results and simulation studies demonstrate the effectiveness of the characterization procedure and the resulting model.