Commercial Vehicle Loans

A smart investment decision is not just limited to the return but also involves a smart choice of loan. Your investment in a commercial vehicle whether old or new is a valuable investment of your money so be wise and choose the right kind of loan before you make your final call.

Eligibility

  • Individual/H.U.F./ Proprietorship/Partnership/Firm/company
  • Borrower should be 21 years or more of age but below 60 years of age
  • Should have minimum 3 years of experience in the transportation sector
  • Self owned residential unit

Tenure

  • Period of Finance is up to 5 years
  • Maximum loan amount cannot exceed 80% of ex-showroom price for new vehicles; 80% of the current evaluation of the vehicle’s value as per approved valuer of the bank.

Documents Required

  • ID and Address Proof
  • Existing Track record
  • Income viability sheet
  • Balance sheet and other supporting financials

Insurance

  • Insurance of the financed vehicle is mandatory

*Share Capital for regular members will be Rs. 100/- (upto Rs. 10.00 lac) and Rs. 500/- (above Rs. 10.00 Lac to Rs. 50.00 Lac).
*All loans are applicable to actual bank charges which include valuation, legal and all actual bank charges

To know more visit your nearest branch.